U.S. Court Rules Boeing Board To Face Investor Lawsuit Over 737 MAX Crashes

Southwest Pilots Association Sues Airline Over Changes To Work Rules

The Southwest Airlines Pilots Association or SWAPA sued the airline for allegedly violating federal labor laws by changing work rules during the pandemic without negotiating with the union, reports said.

As per the filing in the federal district court in Dallas, the airline changed working conditions, and pilot pay rules and rates during the coronavirus travel crisis.

In the complaint, the union said it is seeking an injunction to force the company to revert to the terms of their collective bargaining deal.

Meanwhile, Southwest reportedly denied the allegations.

Russell McCrady, Southwest’s vice president of labor relations said, “Southwest Airlines, like the rest of the industry, has been forced to respond to the unpredictable challenges presented by the global COVID-19 pandemic. The airline disagrees with SWAPA’s claims that any COVID-related changes over the past few months required negotiation.”

The pilots’ union reportedly said earlier that it was planning protests against working conditions by picketing airports over Thanksgiving and Christmas.

Trump To Mark 9/11 By Charging Fans $50 To Hear Him Babble About Boxing

Donald Trump and his son, Donald Trump Jr., will spend the 20th anniversary of the Sept. 11 terror attacks cashing in on a boxing match in Florida. 

The two are set to offer “alternative” commentary to this weekend’s match between Evander Holyfield and Vitor Belfort via the FITE streaming platform. 

The price? $49.99.  

If there is any charity component to the former president’s participation, it is not mentioned on the event’s website or in the pricing details. He previously hosted boxing matches at his since-bankrupt casinos. 

The Sept. 11th fight at the Seminole Hard Rock Hotel in Hollywood, Florida will pit 58-year-old former boxing champ Holyfield, who hasn’t fought in a decade, against Belfort, a former UFC champ who is 14 years younger.

While Trump is marking the 20th anniversary of the attacks by charging fans to listen to him talk about boxing, President Joe Biden will visit all three crash sites: New York, the Pentagon and Shanksville, Pennsylvania. 

Perrigo To Acquire HRA Pharma For Approx. $2.1 Bln – Quick Facts

Perrigo Company plc (PRGO) has signed a binding offer to acquire Héra SAS or HRA Pharma, a consumer self-care company, from funds affiliated with Astorg and Goldman Sachs Asset Management. The deal is valued at approximately $2.1 billion in cash. Perrigo said HRA would strengthen the company’s OTC self-care offerings.

“With the addition of HRA and its talented leadership team, Perrigo would be a consumer self-care global leader that is poised to deliver top tier net sales growth and double-digit EPS growth in the near-term while concurrently expanding margins,” said Murray Kessler, CEO, Perrigo.

Perrigo plan to save more than 30 million euros annually by 2023 from unlocking meaningful operational synergies from the acquisition. These synergies, along with HRA’s financial profile, are anticipated to add approximately 400 million euros in net sales and $1.00 in adjusted earnings per share in fiscal 2023.

Daily COVID Cases In US Hit Peak Of The Year

The daily COVID cases in the United States reached its highest point of the year on Tuesday.

With 261683 new cases of coronavirus infections reporting, the national total has increased to 40,282,910, as per the latest data from Johns Hopkins University.

This is in contradiction to new cases falling below the 1,00,000 mark for three consecutive days.

1513 additional casualties took the national COVID death toll to 650,691.

The weekly average of coronavirus deaths has increased to 1499, marking 34 percent fall in a fortnight, according to data compiled by New York Times.

Florida reported the most number of cases – 56,082 – and most COVID-related deaths – 649.

A total of 101,232 people are currently hospitalized due to coronavirus infection in the country, while 31,522,263 people have so far recovered.

As per the latest data published by the Centers for Disease Control and Prevention, 176,659,496 people, or 53.2 percent of the total population, have been fully vaccinated in the United States. This includes 82.1 percent of people above 65.

207,589,611 people, or 62.5 percent of the population, have received at least one dose.

A total of 375,995,378 vaccine doses have been administered so far nationally.

ICU Medical Jumps 30% On Deal To Buy Smiths Group Medical Division

Shares of ICU Medical, Inc. (ICUI) are jumping over 30% on Wednesday morning after the company announced a deal to buy UK-based Smiths Group plc’s medical division for $2.35 billion.

ICUI is currently trading at $268.70, up $62.72 or 30.45%, on the Nasdaq. The stock has traded between $176.19 and $272.05 in the 52-week period.

ICU Medical said it has committed to acquire the Smiths Medical division in a transaction that is superior to the existing proposed sale of Smiths Medical to Trulli Bidco Limited. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products.

ICU Medical says that the combined business of Smiths Medical division and ICU Medical’s existing businesses will generate about $2.5 billion in revenues.

U.S. Court Rules Boeing Board To Face Investor Lawsuit Over 737 MAX Crashes

A US judge has ruled that Boeing’s shareholders may pursue some claims against its board of directors over two fatal 737 MAX crashes, mainly on safety issues.

As per Vice Chancellor Morgan Zurn, Boeing’s board must face a lawsuit from shareholders related to the crashes that killed 346 people in less than six months.

The Boeing 737 MAX, which was the world’s biggest-selling aircraft, was grounded worldwide for 20 months in March 2019 following the two accidents, which together claimed 346 lives. The root cause of the accidents was then traced to software known as MCAS (Maneuvering Characteristics Augmentation System), intended to make the plane easier to handle.

Zurn’s latest ruling in the Court of Chancery stated that the first 737 MAX crash was a red flag about the key safety system MCAS that the board should have heeded but instead ignored.

Zurn said, “The stockholders may pursue the Company’s oversight claim against the board.” Meanwhile, the Delaware judge dismissed two other claims.

Boeing is reportedly planning to review the opinion closely over the coming days as it considers next steps.

Following the 20-month safety ban, the Federal Aviation Administration in November last year allowed 737 Max aircraft to return to service, and also issued first airworthiness certificate for one of the new Boeing 737 Max jets. In January this year, the European Union and Britain cleared Boeing’s 737 Max for return to service in their respective regions.

The crashes reportedly have cost Boeing around $20 billion.