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(Reuters) – A U.S. appeals court on Monday upheld the dismissal of a lawsuit accusing Boeing (NYSE:BA) supplier Spirit AeroSystems (NYSE:SPR) of misleading investors by withholding information about production cuts on the 737 MAX following two crashes in 2018 and 2019.
A three-judge panel of the Denver-based 10th U.S. Circuit Court of Appeals ruled that investors pursuing the proposed class action against Spirit had not met the “stiff burden” of adequately alleging anyone intended to defraud them.
