Boeing to pay $200 million to settle charges it misled investors on 737 Max crashes

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.