Lieff Cabraser serves as Court-appointed Co-Lead Counsel representing Co-Lead Plaintiffs the New York State Comptroller Thomas P. DiNapoli, as trustee of the New York State Common Retirement, and the Fire and Police Pension Association of Colorado in shareholder derivative litigation against current and former officers and directors of The Boeing Company (“Boeing”), In re The Boeing Company Derivative Litigation, Consol. C.A. No. 2019-0907-AGB (Del. Ch.).
Co-Lead Plaintiffs’ amended complaint, filed September 2, 2020, alleges that Boeing’s officers and directors breached their fiduciary duties to the company by dismantling Boeing’s lauded safety-engineering corporate culture in favor of what became a financial-engineering corporate culture. Despite numerous safety-related red flags, the Board and officers failed to monitor the safety of Boeing’s aircraft. Ultimately, the Board and officers’ consistent disregard for safety resulted in the flawed design of Boeing’s 737 MAX, leading to the tragic deaths of 346 passengers and the grounding of all 737 Max aircraft.