- A federal judge rejected a challenge by relatives of Boeing Co's BA 737 MAX crash victims to reopen or reject a 2021 deferred prosecution agreement between Boeing and the U.S. Department of Justice (DoJ).
- U.S. District Judge Reed O'Connor ruled against ordering changes to the 2021 deferred prosecution agreement (DPA), ruling that the "court lacks statutory authority to supervise, or substantively review" the settlement between Boeing and DOJ.
- Reed O'Connor said he has sympathy for the families of the 346 people who died in two Max crashes but that federal law doesn't give courts the power to oversee agreements that prosecutors make with defendants.
- Related: Boeing To Cut Around 2K Finance and HR Jobs; Outsource Some To India.
- The ruling appears to end an effort by family members of some passengers to nullify a January 2021 agreement that Boeing struck with the Justice Department.
- Boeing won immunity from criminal prosecution as part of the $2.5 billion Justice Department agreement over a 737 MAX fraud conspiracy charge related to the plane's flawed design, Wall Street Journal reported.
- "This court has immense sympathy for the victims and loved ones of those who died in the tragic plane crashes resulting from Boeing's criminal conspiracy," Judge O'Connor wrote in his ruling. "Had Congress vested this Court with sweeping authority to ensure that justice is done in a case like this one, it would not hesitate."
- Price Action: BA shares are up 0.43% at $213.80 during the premarket session on the last check Monday.
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BABoeing Co
$195.151.80%
Edge Rankings
Momentum
84.89
Growth
12.14
Quality
-
Value
26.88
Price Trend
Short
Medium
Long
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