U.S. appeals court revives Boeing 737 MAX shareholder suit
Written by on January 7, 2022
January 7, 2022
WASHINGTON (Reuters) – A U.S. appeals court on Friday revived a 2019 shareholder lawsuit filed against Boeing Co after two fatal 737 MAX crashes killed 346 people over a five-month period and led to the plane’s 20-month grounding.
The Seafarers Pension Plan filed a lawsuit alleging that Boeing officers and board members made false and misleading public statements about the 737 MAX in proxy materials.
A U.S. District Court judge had dismissed the lawsuit, applying a Boeing bylaw that gave the company the right to insist those be filed in a Delaware court. In a 2-1 decision, the U.S. Court of Appeals for the 7th Circuit reversed the lower court ruling.
(Reporting by David Shepardson and Jonathan Stempel; editing by Jonathan Oatis)