Boeing: BFA Appointed Co-Lead Counsel in Derivative Lawsuit
Deal News | Mar 21, 2025 | Bleichmar Fonti & Auld LLP
On March 20, 2025, the Delaware Court of Chancery appointed Bleichmar Fonti & Auld LLP (BFA) as Co-Lead Counsel in a derivative lawsuit involving Boeing. The case was brought by prominent public retirement systems, including the Ohio Public Employees Retirement System, the State Teachers Retirement System of Ohio, and the Oklahoma Firefighters Pension and Retirement System, who were appointed as Lead Plaintiffs. The lawsuit accuses Boeing's board of directors and senior management of neglecting their fiduciary responsibilities by failing to enforce adequate safety and compliance measures, which allegedly resulted in systemic quality issues with the company's aircraft. Derrick Farrell, a partner at BFA, emphasized the law firm's resolve to rigorously litigate the case on behalf of Boeing's shareholders. This development has been highlighted in Bloomberg Law, drawing attention to the firm's strong stance and reputation for not settling cases cheaply.
Sectors
- Aviation
- Legal Services
- Retirement and Pension Funds
Geography
- United States – The legal proceedings are taking place in the Delaware Court of Chancery, and the involved entities, including Boeing and the retirement systems, are based in the United States.
- Delaware – The lawsuit is filed in the Delaware Court of Chancery, one of the nation's leading venues for corporate litigation.
Industry
- Aviation – The article centers around Boeing, a major player in the aviation industry, involved in legal proceedings due to alleged failures in safety and compliance measures for their aircraft.
- Legal Services – Bleichmar Fonti & Auld LLP is a law firm engaged as Co-Lead Counsel in a derivative litigation case, highlighting the legal industry aspect of the article.
- Retirement and Pension Funds – The involvement of public retirement systems as Lead Plaintiffs connects the article to the sector of retirement and pension funds.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Boeing | Target Company | Company | The defendant in the derivative lawsuit accused of failing to maintain adequate safety and compliance measures. |
| Bleichmar Fonti & Auld LLP | Co-Lead Counsel | Company | The law firm appointed as Co-Lead Counsel to represent the plaintiffs in the Boeing derivative litigation. |
| Ohio Public Employees Retirement System | Lead Plaintiff | Company | One of the public retirement systems appointed as Lead Plaintiff in the lawsuit. |
| State Teachers Retirement System of Ohio | Lead Plaintiff | Company | One of the public retirement systems appointed as Lead Plaintiff in the lawsuit. |
| Oklahoma Firefighters Pension and Retirement System | Lead Plaintiff | Company | One of the public retirement systems appointed as Lead Plaintiff in the lawsuit. |
| Vice Chancellor Morgan T. Zurn | Judicial Authority | Person | The Vice Chancellor in the Delaware Court of Chancery who appointed the lead plaintiffs and co-lead counsel. |
| Derrick Farrell | Partner at BFA | Person | A partner at Bleichmar Fonti & Auld LLP quoted in Bloomberg Law regarding the litigation. |