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Nov 18, 2019

Boeing directors sued over missed warning signs on 737 Max 8

Why this investor says Boeing is about to jump in 2020

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Boeing Co. directors were accused of dragging their feet in investigating problems with the company’s 737 Max 8 airliner in a lawsuit seeking to hold the company’s board accountable for the crash deaths of more than 300 passengers.

A Boeing shareholder contends directors missed repeated red flags about the 737 Max 8’s automated flight-control systems — even before it was installed — and then waited months to launch a probe of the problems after a fatal crash last year, according to the Delaware Chancery Court suit filed Monday.

The failure of board members to fulfill their legal duties to investors in the 737 Max 8 controversy left Boeing with marred “credibility in the marketplace, a damaged reputation and billions in potential business costs and liability,” according to the suit.