Boeing to pay $200 million to settle charges it misled investors on 737 Max crashes
CBSN
Boeing is paying $200 million to settle federal allegations of investor fraud surrounding its 737 Max plane, two of which crashed in 2018 and 2019, killing a total 346 people.
The aircraft maker and its former CEO, Dennis Muilenburg, allegedly misled the public and investors by claiming the plane was safe despite knowing that a flight-control system posed a safety risk, the Securities and Exchange Commission said on Thursday.
Muilenburg will pay an additional $1 million to settle the same charges, the agency said. Neither Boeing nor Muilenburg admitted wrongdoing as part of the settlement.
Embattled aircraft giant Boeing Wednesday argued to the Justice Department that the company has upheld its end of a 2021 deferred prosecution agreement, and pushed back at federal prosecutors who wrote last month that the plane manufacturer has violated the deal and risked being prosecuted, two people familiar with the discussions confirmed to CBS News.