Current and former Boeing directors have reached an approximately $225 million agreement to settle a shareholder lawsuit that claimed the plane maker’s board failed to properly oversee safety matters related to the 737 MAX, the Wall Street Journal wrote on Friday. The aircraft manufacturer also agreed to appoint an ombudsman and a board representative with knowledge of safety measures in aeronautics.
The 737 MAX was gradually cleared to fly around the world after 20 months of grounding imposed for two fatal crashes killing 346 people, but continues to be a source of concern for Boeing. The manufacturer has indeed detected several new defects.
Boeing tried to avoid courts, but a judge of Delaware ruled that the company had to appear. Company executives have denied any mismanagement.
Current and former Boeing directors’ insurance companies are expected to pay the compensation of about $225 million.