News and Events for Attorneys and Executives

Boeing Shareholder Files Class-Action Lawsuit, Alleges Plane Maker Concealed 737 Max Safety Risks

The Washington Post is reporting that a Boeing shareholder has filed a class-action lawsuit accusing the company of covering up safety problems with its 737 Max, the commercial jet at the center of two crashes that killed 346 people.

Shareholder Richard Seeks claims Boeing “effectively put profitability and growth ahead of airplane safety and honesty.” The suit said investors suffered economic losses because of Boeing’s omissions and is seeking damages for alleged securities fraud violations, writes the Post‘s Hamza Shaban.

Seeks said he bought 300 Boeing shares in early March and sold them weeks later at a more than $14,000 loss.

Read the Washington Post article.