A new lawsuit accused the company of defrauding shareholders by concealing safety deficiencies in its 737 MAX planes before two fatal crashes led to their worldwide grounding.
A worker works next to a Boeing 737 MAX 9 airplane on the tarmac at the Boeing Renton Factory in Renton, Washington on March 12, 2019.Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.Boeing's legal troubles grew Tuesday as a new lawsuit accused the company of defrauding shareholders by concealing safety deficiencies in its 737 MAX planes before two fatal crashes led to their worldwide grounding.
It also said Boeing's statements about its growth prospects and the 737 MAX were undermined by its alleged conflict of interest from retaining broad authority from federal regulators to assess the plane's safety. Shareholders often file lawsuits accusing companies of securities fraud for concealing material negative information that causes the stock price to decline upon becoming public.
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