Cases
Ohio Public Employees Retirement System, State Teachers Retirement System of Ohio, and Oklahoma Firefighters Pension and Retirement System v. Calhoun et al. and The Boeing Company
- Corporate Governance / Derivative Action
Overview
Overview
| Status: | Status: Pending |
| Court: | Court: Eastern District of Virginia |
| Case Number: | Case Number: 24-CV-01200 |
| Lead Attorneys: | Lead Attorneys: Javier Bleichmar, Joseph A. Fonti, Lesley E. Weaver, Derrick Farrell, Matthew Miller, Evan A. Kubota |
Client: Ohio Public Employees Retirement System, State Teachers Retirement System of Ohio
Background: Plaintiffs allege that certain of Boeing’s current and former board members and senior management, including former CEO David Calhoun, made (or participated in making) public misstatements about Boeing’s safety measures and legal compliance.
BFA’s Role: BFA is Counsel for Plaintiffs Ohio Public Employees Retirement System and State Teachers Retirement System of Ohio
Status: BFA is Co-Counsel representing Ohio Public Employees Retirement System and State Teachers Retirement System of Ohio in a derivative action brought on Boeing’s behalf. The action alleges that the Company’s board of directors and senior management made public misstatements regarding systemic safety and quality issues that impacted Boeing aircraft, leading to the January 2024 incident when a Boeing 737 MAX’s door plug blew out at 16,000 feet, causing significant financial, regulatory, reputational, and legal harm to Boeing. On December 20, 2024, U.S. District Judge Leonie Brinkema denied Defendants’ motion to dismiss as to claims under the Securities Exchange Act of 1934, finding that “plaintiffs have pled with particularity violations of Section 10(b) and 14(a).” On February 3, 2025, Judge Brinkema advanced the claims to discovery.
Background: Plaintiffs allege that certain of Boeing’s current and former board members and senior management, including former CEO David Calhoun, made (or participated in making) public misstatements about Boeing’s safety measures and legal compliance.
BFA’s Role: BFA is Counsel for Plaintiffs Ohio Public Employees Retirement System and State Teachers Retirement System of Ohio
Status: BFA is Co-Counsel representing Ohio Public Employees Retirement System and State Teachers Retirement System of Ohio in a derivative action brought on Boeing’s behalf. The action alleges that the Company’s board of directors and senior management made public misstatements regarding systemic safety and quality issues that impacted Boeing aircraft, leading to the January 2024 incident when a Boeing 737 MAX’s door plug blew out at 16,000 feet, causing significant financial, regulatory, reputational, and legal harm to Boeing. On December 20, 2024, U.S. District Judge Leonie Brinkema denied Defendants’ motion to dismiss as to claims under the Securities Exchange Act of 1934, finding that “plaintiffs have pled with particularity violations of Section 10(b) and 14(a).” On February 3, 2025, Judge Brinkema advanced the claims to discovery.