Boeing and its former CEO have agreed to pay hefty fines to settle charges from the SEC that they misled the public about the safety of the 737 Max following two fatal crashes.
The SEC alleges that, following an October 2018 crash of a Lion Air 737 Max jet that killed 189 people, Boeing and Muilenburg knew that part of the plane's flight control system posed an ongoing safety concern yet told the public that the 737 Max was safe to fly. After a March 10, 2019 fatal 737 Max crash, the SEC alleges that Boeing and Muilenburg knowingly misled the public about"slips" and"gaps" in the certification process of that flight control system.
""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," Boeing said.Read MoreThe company and Muilenburg agreed to settle charges of violating the antifraud provisions of US securities laws, but they did not admit or deny the SEC's allegations.
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