Welcome

Boeing Faces First Federal 737 Shareholder Derivative Suit (1)

Dec. 18, 2019, 8:40 PMUpdated: Dec. 18, 2019, 9:33 PM

Boeing Co. faces what appears to be the first federal shareholder derivative suit against current and former officers and directors for their actions surrounding safety issues with the company’s 737 MAX planes. The suit was filed in the U.S. District Court for the Northern District of Illinois.

The jetmaker’s board didn’t implement any systems to make sure its commercial air products “complied with federal and international laws” during the development of the 737 MAX fleet, a pension plan said in its complaint. The shareholders filed suit Dec. 11 but didn’t file a public version of their complaint until Dec. ...

To read the full article log in.

Learn more about a Bloomberg Law subscription