Boeing Case Highlights Risk For Health, Life Sciences Boards
By Paul Kalb and Holly Gregory (September 29, 2021, 6:16 PM EDT) -- On Sept. 7, the Delaware Chancery Court allowed In re: The Boeing Co. Derivative Litigation to proceed, surviving a motion to dismiss.
The action alleges that directors breached their fiduciary duties with respect to their oversight of safety issues and arises out of two crashes of the company's 737 MAX aircraft.
This decision is the latest in a recent set of cases in which the Delaware courts have allowed so-called Caremark claims to proceed past the motion-to-dismiss stage. In these cases, the courts have made clear that directors must be particularly attentive to oversight of mission-critical regulatory or safety-related risks....
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