SOURCE: Brower Piven, A Professional Corporation

November 20, 2009 20:15 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $300,000 From Investment in Boeing Company, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the January 12, 2010 Lead Plaintiff Deadline

BALTIMORE, MD--(Marketwire - November 20, 2009) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Illinois on behalf of purchasers of the common stock of Boeing Company, Inc. ("Boeing" or the "Company") (NYSE: BA) during the period between May 4, 2009 and June 22, 2009, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than January 12, 2010 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff. You may contact Brower Piven (through hoffman@browerpiven.com or 410/986-0036) to answer any questions you may have in that regard.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period the true testing results for the Dreamliner 787 ("787") to forestall cancellations of orders for the 787, particularly as the orders for its competition, the Airbus A380, were gaining ground; to conceal from the market the material fact that the 787 had a structural problem in its design that would prevent the first flight of the 787 by June 30, 2009, and delivery in the first quarter of 2010; and to enable Boeing to make a positive presentation concerning the test results for the 787 and the schedule for the first flight and delivery of the 787 at the Paris Air Show scheduled for June 15-18, 2009, at which Boeing hoped to receive additional orders for the 787 and beat the showing made by the Airbus for its A380. According to the complaint, after Boeing announced on June 23, 2009 that the first flight of the 787 would be postponed, the value of Boeing's stock declined significantly.

If you have suffered a net loss for all transactions in Boeing Company, Inc. common stock during the Class Period you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410-986-0036, or at Brower Piven, A Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Baltimore, Maryland
    410/986-0036
    Email Contact