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May 29, 2024
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A number of shareholders have filed a lawsuit against Spirit AeroSystems. In a filing by The Klein Law Firm, they allege Spirit of violating Federal securities laws in relation to the tailfin fitting quality issue of the Boeing 737 MAX. Because of incomplete information, shareholders who purchased securities between April 8 and 13 have been affected, the lawsuit says. Lawsuit against Spirit AeroSystems over tailfin issues.

Boeing and Spirit AeroSystems announced in April that the production flaw on the tail fittings had been found. It has been traced back to 737 P-8As and MAX aircraft that have been produced since 2019. Boeing said in its Q1 earnings call that 75 percent of the 225 aircraft in inventory were affected and will need inspections and rework. Spirit also has to do rework or in-production frames or frames in inventory.

In the lawsuit against Spirit AeroSystems, The Klein Law Firm presents five allegations. It claims that “Spirit lacked effective production quality controls. As a result, Spirit incorrectly installed fittings designed to join the aft fuselage to the vertical tail for some Boeing 737 MAX airplanes that Spirit sent to Boeing.”

“As a result, Spirit would have to develop an inspection and repair procedure for the affected fuselages. The foregoing would negatively impact Spirit’s financial results. And as a result of the foregoing, defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.” Shareholders have until July 5 to petition the court.

Chief Financial Officer Brian West said last month that Boeing is making progress with inspections and repairs. This is backed up by Boeing’s May deliveries that were announced today, which include one 737 P-8A and 35 MAX aircraft compared to a combined eighteen narrowbodies in April.

author avatar
Richard Schuurman
Active as a journalist since 1987, with a background in newspapers, magazines, and a regional news station, Richard has been covering commercial aviation on a freelance basis since late 2016. Richard is contributing to AirInsight since December 2018. He also writes for Airliner World, Aviation News, Piloot & Vliegtuig, and Luchtvaartnieuws Magazine. Twitter: @rschuur_aero.

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