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Despite media allegations linked the 2018 tragedy to the MCAS, where shareholders claim that necessary safety measures were not applied on the 737 MAX based on internal records.
The 737 MAX, which was developed in 2011 and launched in 2017, was grounded in March 2019 until being confirmed safe again in November 2020.
Shareholders had accused Boeing board members and executives, including current CEO David Calhoun, of failing to check that the 737 MAX’s control and information instruments were working properly.
According to the Wall Street Journal, US Boeing shareholders have struck an out-of-court settlement with the aviation manufacturer’s current and former directors in a 737 MAX aircraft safety negligence case worth $225 million.
The salary will be paid out by insurers, not the board members and executives, according to the Wall Street Journal. Boeing has also committed to engage an internal mediator and designate a board representative with aviation safety knowledge to tackle internal issues.
According to the Wall Street Journal, the deal, which is likely to be filed by Delaware’s Court of Chancery on Friday, will not require Boeing to admit to negligence on behalf of those sued in the case.
The 737 MAX was involved in two crashes, one in October 2018 by Lion Air and the other in March 2019 by Ethiopian Airlines, killing a total of 346 people. Both incidents were linked to the crash avoidance system, according to investigations (MCAS).
