Boeing shareholders sue over 737 MAX crashes, disclosures
#Boeing’s legal troubles grew on Tuesday as a new lawsuit accused the company of defrauding shareholders by concealing safety deficiencies in its 737 MAX planes before two fatal crashes led to their worldwide grounding. The proposed class action filed in #Chicago federal court seeks damages for alleged securities fraud violations, after Boeing’s market value tumbled by $34 billion within two weeks of the March 10 crash of an #EthiopianAirlines 737 MAX.
Chief Executive #DennisMuilenburg and CFO #GregorySmith were also named as defendants. Boeing spokesman #CharlesBickers had no immediate comment.
#Boeing’s legal troubles grew on Tuesday as a new lawsuit accused the company of defrauding shareholders by concealing safety deficiencies in its 737 MAX planes before two fatal crashes led to their worldwide grounding. The proposed class action filed in #Chicago federal court seeks damages for alleged securities fraud violations, after Boeing’s market value tumbled by $34 billion within two weeks of the March 10 crash of an #EthiopianAirlines 737 MAX.
Chief Executive #DennisMuilenburg and CFO #GregorySmith were also named as defendants. Boeing spokesman #CharlesBickers had no immediate comment.