SEATTLE, Nov 5 ― Boeing Co investors have reached an agreement with current and former company officers to settle a lawsuit over the safety oversight of the 737 MAX, two people familiar with the matter said yesterday.
One of the people added that the monetary portion of the agreement could be around US$250 million , and would be paid by insurers. The lawsuit, also filed in Delaware Chancery Court, alleges that the board did not develop any tools to evaluate and monitor airplane safety until after 737 MAX crashes in Ethiopia and Indonesia killed 346 people in a span of five months, and the fleet was grounded.
In its motion to dismiss the complaint, Boeing said the plaintiffs ignored “the robust systems that had long been in place” to keep the board informed about significant risk issues.
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