Submitted by Boeing shareholders lawsuit It filed a lawsuit against the airline on Tuesday over possible “serious safety deficiencies” and “inadequate quality control” measures in the wake of recent in-flight panel explosions. new york post report.
Shareholders who proposed the class action suit accused Boeing of putting profits ahead of passenger safety, ultimately causing the company’s stock price to go up.
The suit says Boeing previously vowed to “focus” on safety following two MAX crashes in October 2018 and March 2019 that killed 346 passengers. It pointed out. Shareholders say the company’s promised safety efforts were false and misleading.
“Unbeknownst to investors, statements such as the above were false and misleading. Boeing’s failure to disclose that it prioritized profits over safety led to quality control standards in the manufacture of commercial aircraft became inadequate,” the complaint states.
The complaint, led by Rhode Island Treasurer James Diossa, includes all shareholders from October 23, 2019 to January 24, 2024. They include Boeing CEO Dave Calhoun, former CEO Dennis Meilenburg, CFO Brian West and former CFO Gregory Smith. He was also named as a defendant in the lawsuit.
Diossa said the lawsuit could force the company to make important changes to ensure passenger safety.
“This incident could lead to changes in Boeing’s practices to protect and keep passengers safe in the future,” Diossa said.
In January, a door panel exploded on an Alaska Airlines flight from Oregon to California, forcing the airline to make an emergency landing. No passengers were injured in the incident, but all Boeing 737 9 MAX aircraft were grounded for several weeks for further quality control inspections. Internal inspections conducted by Alaska Airlines and United Airlines found loose bolts.
Alaska Airlines CEO Ben Minicucci told NBC News that the airline found “loose bolts in many of our MAX 9s.”
The Federal Aviation Administration then cleared the way for the previously grounded aircraft to return to service after completing the inspection and maintenance process.
In a recent statement, Boeing Commercial Airplanes President Stan Diehl said the company’s “long-term focus is on improving quality so we can regain the trust of our customers, regulators, and flyers.” ” he said.
Boeing’s stock price fell 18.9% from January 5th to January 25th due to the in-flight accident.
Boeing declined to comment on the shareholder lawsuit, the Post reported.
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