LOS ANGELES--(BUSINESS WIRE)-- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of The Boeing Company (“Boeing” or “the Company”) (NYSE: BA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Following the October 2018 crash of a Boeing 737 Max 8 airplane operated by Lion Air, the Wall Street Journal published an article titled ''Boeing Withheld Information on 737 Model, According to Safety Experts and Others,” which alleged that the Company ''withheld information about potential hazards associated with a new flight-control feature suspected of playing a role in last month's fatal Lion Air jet crash.” Over the next 11 days, Boeing’s stock fell by 12.5%. A second 737 Max 8 crash involving an Ethiopian Airlines plane on March 10, 2019, results in further significant drops in the stock. On March 13, 2019, the FAA ordered all Boeing 737 Max 8 and Max 9 planes to be grounded in the United States, and the planes were grounded by authorities in many other countries as well.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190410005639/en/

The Schall Law Firm

Brian Schall, Esq.

Sherin Mahdavian, Esq.

310-301-3335

Cell: 424-303-1964

[email protected]

www.schallfirm.com

Source: The Schall Law Firm

OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has downgraded the Long-Term Issuer Credit Rating to “bbb” (Good) from “bbb+” (Good) and affirmed the Financial Strength Rating of B++ (Good) of Gleaner Life Insurance Society (Gleaner) (Adrian, MI). AM Best also has maintained the under review with developing implications status for these Credit Ratings (ratings).

The ratings reflect Gleaner’s balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, neutral business profile and marginal enterprise risk management (ERM).

Gleaner was initially placed under review and downgraded based on the company’s ERM assessment on May 31, 2024. The company is in the process of updating several governance policies and practices. Gleaner refiled its year-end 2023 statutory financial statements and filed unaudited first-quarter financial statements in June 2024. The refiled year-end 2023 financial statements show a net loss of $2.2 million, which represents a decline of nearly $3.1 million from the originally reported net gain of $886,000. Gleaner since has reported a net loss of $2.1 million through the third quarter of 2024, which is a continuation of reported losses since 2021.

Gleaner has entered into a coinsurance agreement with Heritage Life Insurance Company to reinsure a block of fixed deferred annuities issued from September 2022 through April 2024. This transaction was effective in October 2024. Following a collaboration with the state regulator, policyholders were given several options on how to handle their annuity policy following the agreement with Heritage. The annuity block reinsures policies with nine-year interest rate guarantees. Gleaner has completed the transaction to remove the risks off the balance sheet.

The ratings are expected to remain under review with developing implications until AM Best is able to assess year-end 2024 financial results. AM Best expects that Gleaner will continue to maintain a very strong balance sheet strength, while improving its operating results. AM Best will continue to monitor the company’s operating performance and the revisions to its ERM program governance.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2024 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241122560161/en/

Michael Lynch
Financial Analyst

+1 908 882 2077

[email protected]

Christopher Sharkey
Associate Director, Public Relations

+1 908 882 2310

[email protected]

Wayne Kaminski
Associate Director

+1 908 882 1916

[email protected]

Al Slavin
Senior Public Relations Specialist

+1 908 882 2318

[email protected]

Source: AM Best