Boeing Directors Win Approval of $237 Million 737 Max Settlement

Boeing Co. directors won approval of a settlement valued at more than $237 milion over investors’ claims that board members ignored safety issues tied to 737 Max jetliners, whose fatal crashes have cost the company more than $20 billion.

• A Delaware judge gave final approval to the accord Wednesday, which requires insurers covering directors to pay for the deal
• Money from the settlement goes back into Boeing’s coffers rather to victims of the crashes or shareholders
• Boeing directors faced scathing criticism of their handling of two fatal accidents involving the 737 Max that claimed 346 lives
• The deal requires the Boeing board to add directors with a background in aerospace or safety oversight, a shortcoming while the 737 Max was being certified
• The case is In Re Boeing Co. Derivative Litigation, 2019-0907, Delaware Chancery Court (Wilmington).

To contact the reporter on this story:
Jef Feeley in Wilmington, Delaware at jfeeley@bloomberg.net

To contact the editors responsible for this story:
Katia Porzecanski at kporzecansk1@bloomberg.net

Joe Schneider

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