Boeing pays $200 million to settle charges over ‘misleading’ crash claims

agreed to pay $200 million to settle fees from the Securities and Exchange Commission. The agency found that Boeing had made “seriously misleading public statements” regarding related to it aircraft. The company’s former CEO Dennis Muilenburg will also pay $1 million to settle the fees. The SEC alleges that Boeing and Muilenburg violated the anti-fraud provisions of the federal securities laws. They neither acknowledged nor denied the agency’s findings.

The SEC alleges that, following the first crash in October 2018 that killed 189 people, Boeing and Muilenburg learned that the Maneuvering Maneuvering Characteristics Augmentation System (MCAS) posed a safety concern. continuous. However, the company told the public that the 737 Max is “as safe as any aircraft that has ever flown in the sky”.

After the second incident in March 2019, which left 157 people dead, the company and Muilenburg stated “there were no loopholes or loopholes in the certification process related to MCAS, despite being aware of the contrary information. reverse”. in a statement. After the crash, all 737 Max planes were grounded .

“There are no words to describe the tragic loss of life caused by these two crashes,” said SEC Chairman Gary Gensler. “In times of crisis and tragedy, it is especially important that public companies and executives provide complete, fair and truthful information to the market. The Boeing Company and former executives operator, Dennis Muilenburg, failed in this most basic obligation, misleading investors by providing assurances about the safety of the 737 Max, despite knowing of serious safety concerns. whole.”

The settlement “completely resolves the SEC’s previously disclosed investigation into issues related to the 737 Max crash,” Boeing said. . “Today’s settlement is part of the company’s broader effort to responsibly resolve the outstanding legal issues related to the 737 Max crash in a way that is in the best interests of shareholders.” our shareholders, employees and other stakeholders.”

Former Boeing with the Department of Justice to avoid prosecution. Last year, a grand jury indicted Boeing’s former chief technical pilot, Mark A. Forkner, . Forkner, the only Boeing employee to face criminal charges related to the crashes, is accused of misleading the FAA’s Aircraft Evaluation Team during the 737 Max’s assessment and certification process. After a four-day trial earlier this year, .

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