PORTLAND, Ore., July 15,
2024 /PRNewswire/ --
UNITED STATES OF
AMERICA
Before the
SECURITIES AND
EXCHANGE COMMISSION
ADMINISTRATIVE PROCEEDING
File No. 3-21140
In the Matter of
The Boeing Company,
Respondent.
ADMINISTRATIVE PROCEEDING
File No. 3-21141
In the Matter of
Dennis A.
Muilenburg,
Respondent.
PLAN NOTICE OF BOEING FAIR FUND
TO: Individuals and entities, or their lawful
successors, who purchased or acquired The Boeing Company common
stock listed on a U.S. exchange and registered with the
Commission and traded under the symbol BA (the "Security") during
the period between November 28, 2018
and October 17, 2019, inclusive,
("Relevant Period").
If you fall within the group above, you must
submit a completed Claim Form with the necessary documentation so
that it is postmarked (or if not sent by U.S. Mail, received) by
October 3, 2024 (the "Claims Bar
Date"), to be considered for eligibility to receive a Distribution
Payment from the Boeing Fair Fund.
Purpose of this Plan Notice
The purpose of this Plan Notice is to inform you
that you may be eligible to share in the proceeds of the Boeing
Fair Fund described herein. To be potentially eligible to share in
the Boeing Fair Fund, you must file a Claim Form in accordance with
the steps set forth in this Plan Notice and in the Plan of
Distribution (the "Plan") approved by the Securities and Exchange
Commission ("SEC" or "Commission"). Claim Forms, together with this
Plan Notice, are being mailed to all known Preliminary
Claimants1 who are identified as Preliminary Claimants
by the Commission-appointed Fund Administrator ("Fund
Administrator"), Epiq Class Action & Claims Solutions, Inc.
("Epiq").2 Copies of the Plan, this Plan Notice, and the
Claim Form are available on the Boeing Fair Fund website at
www.BoeingFairFund.com and through the Commission's website at
https://www.sec.gov/divisions/enforce/claims/boeing.htm.
PLEASE READ THIS PLAN NOTICE CAREFULLY AND IN
ITS ENTIRETY.
Background
On September 22,
2022, the Commission issued two separate, but related Orders
instituting and simultaneously settling cease-and-desist
proceedings against the Respondents. In the Orders, the Commission
found that the Respondents failed to exercise reasonable care in
making statements to the public following two fatal accidents (the
Lion Air Flight 610 and Ethiopian Airlines Flight 302) involving
its new 737 MAX line of aircraft. Those failures resulted in
Respondents making materially misleading statements to investors in
Boeing's November 27, 2018 press
release about the Lion Air crash and in Muilenburg's public
statements in April 2019 following
the Ethiopian Airlines crash. By failing to exercise reasonable
care to ensure those statements provided all facts necessary to
make those statements to investors not misleading under the
circumstances, Boeing and Muilenburg violated Sections 17(a)(2) and
17(a)(3) of the Securities Act of 1933. In their respective Orders,
the Commission ordered Boeing and Muilenburg to pay $200,000,000 and $1,000,000 in civil money penalties,
respectively, to the Commission. In each of the Orders, the
Commission also created a Fair Fund, pursuant to Section 308(a) of
the Sarbanes-Oxley Act of 2002, so the penalties paid can be
distributed to harmed investors, and further ordered that the funds
may be combined with any other distribution or Fair Fund arising
out of the same facts that are the subject of the Order.
The Respondents have paid in full. In accordance
with the Orders, the $201,000,000
paid by the Respondents has been combined and comprises the Fair
Fund. The Fair Fund has been deposited in a Commission-designated
account at the U.S. Department of the Treasury, and any accrued
interest will be added to the Fair Fund.
Eligibility Criteria and the Distribution
Methodology
To qualify for a payment from the Boeing Fair
Fund, you must satisfy certain eligibility criteria that are
described in detail in the Plan. The Plan is available on the Fair
Fund website at www.BoeingFairFund.com and on the Commission's
public website at
https://www.sec.gov/divisions/enforce/claims/boeing.htm. You can
also request a copy of the Plan by calling the Fund Administrator
at 1-855-526-1427 or by emailing info@BoeingFairFund.com. The
eligibility criteria include the following:
- You must have purchased or acquired The Boeing Company common
stock, listed on a U.S. exchange and registered with the
Commission and traded under the symbol BA during the Relevant
Period.
- Your approved transactions must calculate to a Recognized Loss
as calculated under the Plan and your Distribution Payment must
equal or exceed $10.00.
Claim Forms
A CLAIM FORM IS BEING MAILED TO ALL PRELIMINARY
CLAIMANTS KNOWN TO THE FUND ADMINISTRATOR. IF YOU DO NOT RECEIVE A
CLAIM FORM OR REQUIRE ADDITIONAL CLAIM FORMS, FOLLOW THE
INSTRUCTIONS BELOW UNDER "ADDITIONAL INFORMATION."
THE DEADLINE TO SUBMIT A CLAIM FORM AT THE
ADDRESS BELOW IS OCTOBER 3, 2024—ALSO
REFERENCED HEREIN AS THE "CLAIMS BAR DATE". PLEASE NOTE: THIS IS A
"POSTMARKED" DEADLINE. IF YOU FAIL TO SUBMIT A COMPLETED CLAIM FORM
POSTMARKED ON OR BEFORE OCTOBER 3,
2024, YOU WILL BE BARRED FROM RECEIVING A PAYMENT FROM THE
BOEING FAIR FUND. THE CLAIM FORM MUST BE ACCOMPANIED BY APPROPRIATE
SUPPORTING DOCUMENTS FOR EACH TRANSACTION LISTED IN PARTS II–III OF
THE CLAIM FORM.
Boeing Fair Fund
Fund
Administrator
PO Box 5899
Portland, OR 97228-5899
Claim Determinations
The Fund Administrator will send a Claim Status
Notice within 90 days of the Claims Bar Date to any Preliminary
Claimants who submitted a deficient Claim Form. The Claim Status
Notice will provide the reason(s) for the deficiency and in the
event the claim is denied, the Claim Status Notice will state the
reason(s) for such denial. The Claim Status Notice will also notify
the Preliminary Claimant of the opportunity to cure any deficiency,
request reconsideration, or dispute the determination made by the
Fund Administrator and provide instructions regarding what is
required to do so.
Within one hundred fifty (150) days of the Claims
Bar Date, the Fund Administrator will complete all claims
determinations and send a Determination Notice to all Preliminary
Claimants who timely submitted a Claim Form notifying the
Preliminary Claimant of its eligibility determination. The
Determination Notice will constitute the Fund Administrator's final
ruling regarding the eligibility status of the claim. The Fund
Administrator may consider disputes of the recognized loss
calculation pursuant to the procedures outlined in the approved
Plan of Distribution.
Additional Information
Additional information regarding the Boeing Fair
Fund may be found at www.BoeingFairFund.com. Additional Claim Forms
and Plan Notices may also be downloaded at the Boeing Fair Fund's
website. You may obtain additional information or request copies of
Claim Forms and Plan Notices by calling the Boeing Fair Fund's
toll-free number at 1-855-526-1427, or by emailing
info@BoeingFairFund.com.
PLEASE CHECK THE WEBSITE
WWW.BOEINGFAIRFUND.COM FREQUENTLY FOR UPDATES.
____________
1 Capitalized terms not defined here
are defined in the Plan.
2 On May 10, 2023, the
Commission appointed Epiq Class Action & Claims Solutions, Inc.
("Epiq") as the Fund Administrator.
URL: www.BoeingFairFund.com
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SOURCE Epiq