The fallout from Boeing's recent difficulties over a fatal crash in Ethiopia continued when shareholders filed a lawsuit against the company.
The filing at a Chicago federal court alleges that the aerospace company defrauded investors over the safety features of Boeing's 737 Max aircraft which was involved in two fatal crashes: one in Ethiopia last month and another in Indonesia last year.
According to the filing Boeing effectively put profitability and growth ahead of airplane safety and honesty," as reported by Reuters.
The suit names Boeing CEO Dennis Muilenburg and Chief Financial Officer Gregory Smith as defendants,
The company's stock has fallen $34 billion since the crash in Ethiopia last month in which 157 people died despite the pilots onboard following the relevant procedures to prevent the crash.
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