GMBStaff

 3 Sep 23

tl;dr

A shareholder lawsuit has been filed against Jeff Bezos and Amazon.com's board of directors, claiming that they did not thoroughly evaluate the decision to grant contracts for the Project Kuiper satellite project to Blue Origin, Bezos's space company. The lawsuit argues that Amazon overlooked SpaceX...

Jeff Bezos and Amazon.com's board of directors are facing a shareholder lawsuit alleging that they did not fully vet the decision to award contracts for the company's Project Kuiper satellite project to Blue Origin, Bezos's space company. The lawsuit argues that Amazon did not consider SpaceX as an alternative launch provider and awarded contracts worth billions of dollars to Blue Origin. This decision is the second largest capital expenditure for Amazon after its Whole Foods acquisition. Project Kuiper aims to provide internet access to remote regions, similar to SpaceX's Starlink. Amazon has stated that the claims are without merit.

Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 22 Nov 24
 22 Nov 24
 22 Nov 24