Amazon.com, founder Jeff Bezos and certain executives were named in a stockholder derivative lawsuit on Aug. 24 in Delaware Court of Chancery. The lawsuit, filed by Grant & Eisenhofer on behalf of the Cleveland Bakers and Teamsters Pension Fund, accuses Amazon’s board of directors of signing off on multi-billion-dollar deals involving Jeff Bezos’ rocket company, Blue Origin, without due consideration. According to the suit, the board failed to meet its fiduciary duties by approving contracts with Blue Origin without considering other rocket companies. The complaint was initially filed under seal and made public on Aug. 28. The case is 2023-0868-, Cleveland Bakers and Teamsters Pension Fund v. Jeffrey P. Bezos.
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August 24, 2023, 10:07 AM