Friday, 30 Sep 2022

Boeing to pay $200m to settle charges it misled investors over 737 Max crashes

Boeing to pay $200m to settle charges it misled investors over 737 Max crashes


Boeing to pay $200m to settle charges it misled investors over 737 Max crashes

Boeing will pay $200m to settle charges that it misled investors and the former Boeing chief Dennis Muilenburg has agreed to pay $1m.

The SEC has been investigating statements made by the company and by its former chief executive. Boeing investors lost billions after the crashes and the SEC is tasked with enforcing rules that force companies to disclose information that could affect their share price.

The two crashes, of a Lion Air flight that crashed into the sea off Jakarta and an Ethiopian Airlines flight from Addis Ababa, happened within four months of each other and involved a flight control function called the Maneuvering Characteristics Augmentation System (MCAS).

Boeing was not immediately available for comment.

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