Boeing is up again! Shareholders sued their shareholders for a sharp decline in market value

 Boeing is up again! Shareholders sued their shareholders for a sharp decline in market value

Boeing Factory, Washington, USA (Reuters)

Overseas Networks was restarted on April 10 by Radio and Boeing. Boeing shareholders filed a collective lawsuit against the company, claiming that Boeing concealed safety flaws in the 737MAX model, Reuters reported Wednesday.

In the two weeks following the crash of Ethiopian Airlines 737MAX, Boeings market value fell by $34 billion. At present, the class action from investors is being heard in the Chicago Federal Court, and shareholders are seeking compensation from Boeing for losses caused by suspected fraud.

Boeing Chief Executive Dennis Mirenberg and Chief Financial Officer Gregory Smith both appeared on the list of defendants.

Boeing spokesman Charles Bix did not respond.

According to the Daily Mail, the lawsuit pointed out that Boeing put profit above safety, and in order to compete with Airbus, the 737MAX model was quickly introduced to the market. At the same time, the extra or optional functions are omitted, which can prevent the occurrence of Aeronautic and Lion aviation accidents.

In addition, the lawsuit pointed out that Boeings statement on growth prospects and 737MAX was affected by conflicts of interest because it retained the official authority of federal regulators to assess aircraft safety performance.

Richard Sex, the main defendant in the lawsuit, said that after the Lion crash, which killed 189 people, the Aeronautical Accident claimed 157 lives, and from then on, Boeings reputation began to suffer.

Boeing has recently been negatively entangled. Reported that around the air crash, there are many prosecutions, many of which come from the families of the victims.

This is accompanied by a downturn in operating efficiency. On Tuesday (9), Boeing said orders for the first quarter of 2019 dropped to 95 from 180 a year ago, and there have been no orders for 737 MAX since the crash was boycotted globally. Boeing also revealed on May 5 that it plans to cut monthly production of 737 models and launch software updates for 737MAX to prevent further tragedies.

Source: Overseas Network Responsible Editor: Li Wan_B11284