Gibson Dunn Team Helps Secure Published Fourth Circuit Decision Reversing Class Certification in Closely Watched Boeing Securities-Fraud Litigation

Firm News  |  July 24, 2026

---

In a published decision issued on July 20, 2026, the Fourth Circuit reversed certification of a shareholder class in the closely watched Boeing securities-fraud litigation arising from the January 2024 door-plug incident involving an Alaska Airlines flight. The team persuaded the court that plaintiffs had failed both to provide a classwide damages methodology before class certification — which the Supreme Court held in Comcast is needed to measure damages on a classwide basis — and to define a liability theory consistent with that methodology. The proposed class sought billions of dollars in damages based on alleged misstatements spanning more than three years, which made the adequacy of plaintiffs’ classwide damages methodology central to class certification.  By clarifying the requirements under Comcast, the decision gives defendants a roadmap for opposing class certification. 

Our winning team included partners Jeffrey Wall and Judson Littleton. The Sullivan & Cromwell team comprised partner Rick Pepperman, special counsel Jacob Cohen, and associate Jason Barnes.