NEW YORK, Nov. 20, 2009 (GLOBE NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of purchasers of The Boeing Company ("Boeing" or the "Company") (NYSE:BA) stock during the period between May 4, 2009, through June 22, 2009 inclusive (the "Class Period") for violations of the federal securities laws.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Boeing common stock during the Class Period, and wish to move the court for appointment of lead plaintiff, you must do so by January 12, 2010. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Sue Lee at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to slee@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com.
The Complaint alleges that during the Class Period defendants made false and misleading statements regarding the results of tests on Boeing's Dreamliner 787 (the "787"), Boeing's ability to meet the schedule for the 787's first flight, and its delivery in 2010. Specifically, defendants failed to disclose that the 787 had a structural problem in its design that would prevent the 787's first flight from occurring as scheduled by June 30, 2009, and delivery in the first quarter of 2010. On June 23, 2009, Boeing announced that the 787's first flight would have to be postponed because of "a need to reinforce an area within the side-of-body section of the aircraft..." As a result of this announcement, the price of Boeing's common stock dropped 6.5% on June 23, 2009, and fell another 6% the next day.