Key Points
Aug 31 (Reuters) - An Amazon (AMZN.O) shareholder has filed a lawsuit against founder Jeff Bezos and the Amazon board alleging directors failed to fully vet a decision to award launch contracts for the company's Project Kuiper satellite project to Blue Origin, Bezos's space company...
The lawsuit filed by Cleveland Bakers and Teamsters Pension Fund earlier this week claims that the Amazon board awarded contracts worth billions of dollars to Blue Origin and did not consider rival Elon Musk-owned SpaceX as an alternative launch provider despite its track record.. Amazon's Project Kuiper is a planned network of over 3,000 satellites designed to beam broadband internet to remote regions..
Amazon has already paid about $1.7 billion to the three launch providers in the project, including $585 million to Blue Origin directly, the lawsuit states, adding that the company has not yet launched a prototype of its Kuiper satellite into orbit...
You might be interested in
'I wanted to..': Jeff Bezos reveals why he stepped down as Amazon CEO
15, Dec, 23Amazon founder Jeff Bezos in a recent podcast revealed why he decided to step down as the CEO of the firm, and the next project he has poured himself into.