Boeing to pay $200 million to settle charges over 'misleading' crash statements
"There are no words to describe the tragic loss of life brought about by these two airplane crashes," SEC Chair Gary Gensler said."In times of crisis and tragedy, it is especially important that public companies and executives provide full, fair and truthful disclosures to the markets. The Boeing Company and its former CEO, Dennis Muilenburg, failed in this most basic obligation.
The settlement"fully resolves the SEC’s previously disclosed inquiry into matters relating to the 737 Max accidents," Boeing told . “Today’s settlement is part of the company’s broader effort to responsibly resolve outstanding legal matters related to the 737 Max accidents in a manner that serves the best interests of our shareholders, employees, and other stakeholders."
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Boeing pays $200 million to settle SEC charges over 737 MaxBoeing Co. will pay $200 million to settle charges that the company and its former CEO misled investors about the safety of its 737 Max after two of the airliners crashed, killing 346 people. The Securities and Exchange Commission said Thursday that it charged the aircraft maker and former CEO Dennis Muilenburg with making significant misleading public statements about the plane and an automated flight-control system that was implicated in the crashes in Indonesia and Ethiopia.
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Boeing pays $200 million to settle SEC charges over 737 MaxNeither Boeing nor its former CEO Dennis Muilenburg admitted wrongdoing, but are agreeing to orders including penalties of $200 million for Boeing and $1 million for Muilenburg.
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