SOURCE: Kendall Law Group

Kendall Law Group

November 16, 2009 14:36 ET

Kendall Law Group Announces Securities Class Action Against The Boeing Company, Inc.

DALLAS, TX--(Marketwire - November 16, 2009) - Kendall Law Group, led by a former federal judge, today announced that a lawsuit has been filed against The Boeing Company, Inc. (NYSE: BA) for securities violations related to public statements made by the company between May 4, 2009 and June 22, 2009.

Any shareholder, who purchased Boeing stock during the above time period, may move the Court to serve as a plaintiff in this class action. If you wish to serve as lead plaintiff, you must move the Court for appointment by January 12, 2010. A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Your ability to share in any recovery is not, affected by the decision to serve as a lead plaintiff.

The complaint, filed in the Southern District of Illinois, charges Boeing and certain of its officers and directors with violations of the federal securities laws concerning false and misleading statements regarding the 787 Dreamliner. The complaint alleges that Defendants failed to inform investors that the 787 had structural problems in its design that would prevent the first flight of the 787 by June 30, 2009, and delivery in the first quarter of 2010. Based on this information, defendants had no reasonable basis for their positive statements about the Company's business and financial condition.

On June 23, 2009, Boeing announced that the first flight was going to be postponed "due to a need to reinforce an area within the side-of-body section of the aircraft." The first flight and first delivery is to be rescheduled following the "final determination of the required modification and testing plan." On this news, BA common stock dropped 6.5% to close at $43.78, with 27.3 million shares traded. It dropped another 6% the next day closing at $41.32, again with heavy trading volume of 21.3 million shares.

Led by a former federal judge and former U.S. Attorney, Kendall Law Group has the credentials to pursue any type of complex securities litigation in the nation. If you wish to learn more about your rights as a shareholder or have information concerning this action, contact attorney Hamilton Lindley at 877-744-3728 or

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