Tech & Science : Boeing shareholders are suing the board, alleging 'careless' handling of the 737 Max development and the crisis that followed - - PressFrom - Australia
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Tech & Science Boeing shareholders are suing the board, alleging 'careless' handling of the 737 Max development and the crisis that followed

13:20  19 november  2019
13:20  19 november  2019 Source:   businessinsider.com.au

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Boeing shareholders are suing the board , alleging ' careless ' handling of the 737 Max development and the crisis that followed . In addition to the grounding of the worldwide 737 Max fleet since the second crash — which has already led Boeing to take a nearly billion charge — the

Boeing shareholders are suing the board , alleging ' careless ' handling of the 737 Max development and the crisis that followed (BA). Boeing directors were careless in their oversight of the flawed 737 Max 8 airliner and failed to react promptly after two crashes killed more than 300

A 737 Max aircraft at the Boeing factory in Renton, Washington, on March 27. A 737 Max aircraft at the Boeing factory in Renton, Washington, on March 27.
  • A new shareholder lawsuit alleges that Boeing's board members were careless in their oversight of the Boeing 737 Max, leading to a "loss of credibility in the marketplace, a damaged reputation and billions in potential business costs and liability."
  • The suit, first reported by Bloomberg, was filed in Delaware Chancery Court by the Kirby Family Partnership LP.
  • The lawsuit appeared to be the first by shareholders targeting the company's board.
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A new shareholder lawsuit is accusing Boeing's board members of ignoring repeated red flags in the 737 Max's development.

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Boeing shareholders are suing the board , alleging ' careless ' handling of the 737 Max development and the crisis that followed . 'Star Wars Jedi: Fallen Order' returned to the franchise's roots, and the result is an authentic 'Star Wars' experience fan will love. 'Joker' will cross billion at

(Bloomberg) -- Boeing Co. directors were careless in their oversight of the flawed 737 Max 8 airliner and failed to react promptly after two crashes killed more than 300 people, according to a shareholder lawsuit seeking to hold company board members accountable.The directors missed repeated red flags.

The suit, filed by the Kirby Family Partnership LP - which says it has owned Boeing shares since 2018 - also accuses Boeing's board of directors of failing to properly investigate role of the plane's MCAS software in the October 2018 crash of Lion Air Flight 610 in Indonesia, according to a Bloomberg report. That was followed in March by a second crash, involving Ethiopian Airlines Flight 302, prompting a worldwide grounding of the 737 Max.

The lawsuit claims Boeing rushed to get the plane to market, consequently failing to test the plane or adequately train pilots.

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Boeing shareholders are suing the board , alleging ' careless ' handling of the 737 Max development and the crisis that followed . Quavo Says Falcons Should Bench Matt Ryan For Colin Kaepernick.

After two crashes of Boeing 737 jets in just five months, it’s hard not to wonder, why did Boeing resist efforts to ground the jets? Leaders have one crucial task at the start of a disaster-in-the-making, and that is to use the art of framing to describe the nature of the problem the organization is facing.

Boeing announced the 737 Max program - a new generation of the 737 - in 2011 after initially considering designing a brand-new plane. Its rival Airbus announced a new A320neo in 2010, and American Airlines, formerly an exclusive customer, placed an order for the new Airbus jet. That reportedly put pressure on Boeing to design the 737 Max quickly to avoid losing more business.

In addition to the grounding of the worldwide 737 Max fleet - which has already led Boeing to take a nearly $US5 billion charge - the lawsuit says the board's actions hurt Boeing "through loss of credibility in the marketplace, a damaged reputation and billions in potential business costs and liability."

Reports into the two crashes that led to the grounding indicate that the automated MCAS software erroneously engaged and forced the planes' noses downward. Pilots were unable to regain control of the aircraft.

Boeing has since been working on an update to the MCAS software, which regulators must approve before the 737 Max can be approved to fly again.

AWI board elections: Industry dumps Merriman, votes in new blood .
The wool industry has shaken up Australian Wool Innovation, with woolgrowers electing two new candidates to the board and dumping former chairman Wal Merriman. Michelle Humphries, David Webster and Noel Henderson have been elected to the levy-funded board in a close run following what was, at times, a heated campaign.Growers from across the country met in Sydney for the annual AGM and all eyes were on whether there would be change at the top.Previous campaigns for change made a lot of headlines but failed to overcome apathy amongst woolgrowers disengaged in the process.

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