Boeing Can't Limit Forum For Shareholder Suits, 7th Circ. Told

Law360 (November 30, 2020, 6:39 PM EST) -- A Boeing shareholder told the Seventh Circuit during oral arguments Monday that the aerospace giant's bylaws deprive shareholders of their rights to bring federal derivative claims over allegedly misleading proxy statements made about its 737 Max jets.

Seafarers Pension Plan, which has alleged in Illinois federal court that current and former Boeing board members and executives made false and misleading statements about the development and operation of 737 Max, is asking the Seventh Circuit to overturn a district court decision to enforce a forum selection clause in Boeing's bylaws. Seafarers argues the clause, which states that the Delaware Chancery Court "shall...

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