#WASHINGTON — #Amazon is seeking to dismiss a shareholder lawsuit filed in August that alleged that the company’s board of directors acted in bad faith when it awarded Project Kuiper launch contracts to #Arianespace, Blue Origin and United Launch Alliance.
In a filing with Delaware’s Court of Chancery Dec. 11, Amazon said a suit filed in August by a Cleveland-based pension fund that is a company shareholder failed to provide the “extreme set of facts” required by law to show Amazon’s board improperly approved the launch contracts while overlooking #SpaceX.
The lawsuit claimed that the board performed little diligence on the proposed contracts to launch the 3,236-satellite constellation with the Ariane 6, New Glenn and Vulcan Centaur rockets. The combined contracts were, it stated, the second largest capital expenditure in Amazon’s history at the time, trailing only its $13.7 billion acquisition of grocer Whole Foods.
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