Judge OKs Boeing settlement with investors over 737 Max
ABC News
A judge has approved a settlement of a lawsuit in which Boeing investors accused company directors of failing to properly oversee safety issues around the 737 Max
DALLAS -- A judge has approved a $237.5 million settlement of a lawsuit in which Boeing investors accused company board members of failing to properly oversee safety issues around the 737 Max before two of the planes crashed, killing 346 people.
The investors filed the so-called derivative lawsuit on behalf of Boeing. Insurers for several current and former Boeing directors will pay the settlement to Boeing.
New York State Comptroller Thomas DiNapoli, representing two funds that sued Boeing, said the settlement included needed safety reforms such as a method for employees to raise concerns and adding a board member with aviation or safety experience.
“We hope this settlement will help safeguard Boeing and the flying public against future catastrophe and protect shareholders’ long-term investments in the company,” he said.
