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BA.US
id: 1063
Boeing (BA) Supplying Unsafe Aircraft Case
- On January 7, 2024, The Wall Street Journal published an article stating that the FAA ordered grounding inspections of dozens of Boeing 737 MAX Jets, after a section of the aircraft ripped away in midair.
- On it, $BA fell 8.3%, losing $12.1B+ of shareholder value.
- Investors may have grounds to suspect Boeing of supplying unsafe aircraft, which led to their losses.
On January 7, 2024, The Wall Street Journal published an article entitled “FAA Orders Grounding of Some Boeing 737 MAX 9 Jets After Emergency Landing.” It stated that the Federal Aviation Administration ordered a temporary grounding and immediate inspections of dozens of Boeing 737 MAX Jets, after one of the planes made an emergency landing when a section of the aircraft ripped away in midair. Alaska and United, two of the biggest users of the jets, canceled dozens of flights but said inspections were underway.
On this news, $BA fell 8.3% and lost over $12.1 billion of its market capitalization, seriously damaging shareholders.
Considering all the information, investors might have grounds to suspect Boeing of failing to timely disclose its airplanes’ safety risks, which led to their losses.
The case is already under investigation by at least one of the reputable law firms.
Case Status
Inactive Investigation
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
01/08/2024