Boeing to pay $200M settlement for misleading investors over deadly 737 Max crashes

Boeing will pay $200 million to settle an investigation into its misleading claims following two deadly crashes of its 737 Max aircraft.

Federal regulators said Thursday that Boeing executives deceived shareholders after the crashes in 2018 and 2019 killed 346 people.

“Boeing and [then-CEO Dennis] Muilenburg put profits over people by misleading investors about the safety of the 737 Max, all in an effort to rehabilitate Boeing’s image,” said Gurbir S. Grewal of the Securities and Exchange Commission.

boeing to pay $200m settlement for misleading investors over deadly 737 max crashes

A Boeing 737 Max lands in Seattle on Sept. 30, 2020 during a test flight. (Elaine Thompson/AP)

Muilenburg agreed to pay $1 million out of his own pocket, according to an SEC press release. He was canned in December 2019 amid the 737 Max scandal.

Neither Muilenburg nor Boeing admitted or denied any findings from the SEC investigation, the commission noted. The aircraft maker did not immediately comment on the settlement.

After the first 737 Max crash — Lion AIr Flight 610, which killed 189 people after taking off from Jakarta, Indonesia — Boeing issued a press release claiming the 737 Max was “as safe as any airplane that has ever flown the skies.”

Just months later, another 737 Max flight on Ethiopian Airlines crashed shortly after takeoff from Addis Ababa, killing 157 people.

In response, the jet model was quickly grounded worldwide. The SEC said its investigation revealed Boeing executives knew about the problems with the 737 Max, specifically its flight-control system, but kept them hidden.

“In times of crisis and tragedy, it is especially important that public companies and executives provide full, fair, and truthful disclosures to the markets,” SEC chair Gary Gensler said. “The Boeing Company and its former CEO, Dennis Muilenburg, failed in this most basic obligation.”

News Related


I felt powerless during 10yr domestic abuse hell… we must do better for survivors, brave Mel B tells Tories at Sun event

SPICE Girl Mel B took the Tory conference by storm last night as she demanded action on domestic abuse. Speaking at a Sun and Women’s Aid event in Birmingham, the ... Read more »

Da Silva and Bolsonaro to face each other in run-off Brazil election

Brazilians will head to the polls again on 30 October for a second round vote after former president Luiz Inacio Lula da Silva secured more than a 4% win over ... Read more »

Dominant Raptors feed off crowd to beat Jazz

EDMONTON – The Toronto Raptors opened their exhibition season on Sunday by being simply dominant in their Canadian home away from home. Pre-season or not, holding an NBA team — ... Read more »

Marcus Stroman's Dramatic Jump in Cubs 2023 Rotation Power Rankings

Stroman nabs top spot in Cubs 2023 Rotation Power Rankings originally appeared on NBC Sports Chicago It took Marcus two weeks in April to get his season on track, another ... Read more »

Man gunned down at Belfast social club as fans gathered to watch derby

A MURDER probe has been launched after a man was shot dead at a social club today. Two masked gunmen entered the premises in west Belfast before shooting the victim, ... Read more »

Checo tras ganar en Singapur: 'Callamos nuestras bocas y trabajamos duro. Es el modo mexicano'

El piloto mexicano de Red Bull, Sergio Pérez, celebra tras ganar el Gran Premio de Singapur de Fórmula Uno, en el circuito de Marina Bay City en Singapur, el domingo ... Read more »

Wisconsin fires football coach Paul Chryst, names defensive coordinator Jim Leonhard interim

Wisconsin fires football coach Paul Chryst, names defensive coordinator Jim Leonhard interim Wisconsin has fired coach Paul Chryst after the team's 2-3 start. “After a heartfelt and authentic conversation with ... Read more »

Asia-Pacific Markets Set to Trade Mixed; China, South Korea Markets Closed

This is CNBC’s live blog covering Asia-Pacific markets. Futures in the Asia-Pacific pointed to a mixed trading day Monday as markets enter the last quarter of the year. The Nikkei ... Read more »

Mum’s agony after baby daughter drowns in blow-up spa while she’s at work – with girl’s brother, 6, finding body

A MUM has spoken of her agony after her toddler drowned in a blow-up spa in Queensland while she was at work. Tahlia Brown told how her 17-months old daughter ... Read more »

Did Tom Ellis Really Do His Own Singing On Lucifer?

Kathy Hutchins/Shutterstock There’s no question that Tom Ellis is at the center of a show like “Lucifer.” After all, he plays the title character, which is to say nothing of ... Read more »

I trusted my neighbour to feed my cats – but he turned out to be a creep who did something horrifying to my bed

A WOMAN has told how a neighbour she trusted to feed her cats was actually a “creepy stalker” who planted listening devices in her home. William Nolan, 59, and his ... Read more »

As energy prices soar – try these candles to add some extra warmth in your home without burning your wallet

NOTHING creates that cosy autumn feeling quite like the glow from a candle. With energy prices increasing, it’s also one way to add some extra warmth and light. Energy prices ... Read more »

Wisconsin fires football coach Paul Chryst

Wisconsin fires football coach Paul Chryst Wisconsin has fired coach Paul Chryst after the team's 2-3 start. Defensive coordinator Jim Leonhard will serve as interim coach for the remainder of ... Read more »

Major change to childcare could save money for parents as Liz Truss aims to rip up childminder rules

PARENTS could save some major cash on childcare under plans being drawn up by Liz Truss. The Prime Minister is reportedly pushing for the creation of new “childminder agencies” under ... Read more »

Britain’s most pampered dog eats at table and has movie nights

MEET Britain’s most pampered pooch who eats at the dinner table, loves ice cream and enjoys film nights with doggy popcorn. Ten-month-old cockapoo Luna also has a bed in every ... Read more »

Recovered from COVID-19, Lea Michele performs ‘Funny Girl’ song on ‘The Tonight Show’

Lea Michele is performing “Funny Girl” songs on TV again — but no longer as her “Glee” character, Rachel Berry. On Friday’s episode of “The Tonight Show,” Michele sang a ... Read more »

Major blow for Universal credit claimants with next years’ promised payment rise set to be massively reduced

BENEFITS may only rise in line with earnings rather than inflation next year, as ministers look to cover the cost of the £650 energy bailout for Universal Credit claimants. Eight ... Read more »

Defiant Jermaine Defoe shares loved-up pic with wife hours after revelations he begged nurse for sex

JERMAINE Defoe shared a loved up pic with his wife at an NFL game today after revelations he begged a nurse for sex just days after their wedding. The former ... Read more »

Mark Wahlberg's Childhood Home in Boston Damaged by Fire That Spread to 3 Others

Link video: NBC Universal, Inc. The childhood home of Mark Wahlberg and his family was heavily damaged after a fire broke out Sunday morning and spread to three nearby ... Read more »

In 50 years in politics, I have never seen anything as ugly as this vicious war in the Tory party – only Labour will win

GIVEN half a chance, the economy will bounce back from this mini Budget crisis – and much sooner than the gloomsters predict. The £45billion cut in energy bills will reduce ... Read more »

Promising teen boxer dies in Portugal holiday tragedy days before 15th birthday as heartbroken family pay tribute

A PROMISING teen boxer has died in a holiday tragedy just days before his 15th birthday. Jack Pollock, from Edinburgh, passed away suddenly in Portugal on September 29. Jack Pollock, ... Read more »

Bailey Zappe replaces injured Brian Hoyer early as New England Patriots fall to Green Bay Packers in overtime

Bailey Zappe replaces injured Brian Hoyer early as New England Patriots fall to Green Bay Packers in overtime GREEN BAY, Wis. — Down to rookie Bailey Zappe — their third and ... Read more »

Star Hobson’s evil mum and psychopathic lover got £500k in legal aid from taxpayers

THE evil mum of murdered tot Star Hobson and her psychopathic lover received nearly £500,000 in legal aid. Frankie Smith, 21, let Savannah Brockhill, 29, use 16-month-old Star as a ... Read more »

Liz Truss preparing to ditch scrapping 45p tax rate following crisis talks with Chancellor after brutal Tory backlash

LIZ Truss was last night preparing to ditch scrapping the 45p tax rate in a humiliating climb down. After a day of brutal Tory backlash the PM summoned her Chancellor ... Read more »

Tories put Liz Truss at the helm and she has set her course – now they must calm down and get behind her

Cut the spats LIZ Truss, by her own admission, handled the presentation of the mini-Budget badly. In her own words, the Prime Minister did not lay the ground for all ... Read more »

Brit teen died from allergic reaction in Mexico after just THREE bites of burrito – and waiters ‘refused to help’

A BRIT teenager died after eating just three bites of a burrito while he was travelling in Mexico, a coroner has ruled. Joe Dobson, 19, suffered the fatal allergic reaction ... Read more »

Royal Marine climbs three mountains in one day with a 30kg FRIDGE on his back

A ROYAL Marine has climbed three mountains in one day — with a 30kg fridge on his back. Cpl Sam Hammond even had a few beers stashed inside it for ... Read more »

Fruit lovers faced with ‘mini apples’ after freak weather affected homegrown varieties

FRUIT lovers have been told size does not matter as mini apples are set to fill the shelves in shops this winter. A dry summer of weather affected growth but ... Read more »

'It’ll be full of sex and drugs and mental illness': Robbie Williams promises his upcoming Netflix documentary will have 'no rules' when it comes to filming

Robbie Williams promises his Netflix documentary will be packed with sex, drugs and mental illness, insisting there’s no limits when it comes to filming. The singer, 48, has editorial control ... Read more »

'I was absolutely frightened, it was all so scary and I froze': Woman who was raped repeatedly by Jimmy Savile when she was 15 speaks out as she describes how vile monster groomed and attacked during 1970s then bought her silence with menacing threats

Victim is one of five women in ITV's Exposure: The Other Side of Jimmy SavileThe award-winning film prompted hundreds of other victims to come forwardWoman, a retired carer in her 60s, revealed Savile raped her on BBC premisesSavile gifted her a copy of his autobiography in which he had penned 'no escape' Read more »

Alberta government commits $20.8M to fight human trafficking

The Alberta government is providing $20.8 million over the next four years to implement recommendations from a star-led task force on human trafficking. Country singer Paul Brandt, chair of the Alberta Human Trafficking Task ... Read more »

Paramedic burnout a growing concern as staff shortages continue in B.C.

With the ongoing paramedic shortages across B.C., burnout and mental health issues are hitting first responders worse than ever and in a way the union has never seen before. “Thirty ... Read more »

Why Are Players, Coaches Wearing Decals of Different Flags in the NFL This Week?

Kyler Murray, Chase Claypool and Bill Belichick all donned a non-U.S. flag during their Week 4 matchup as part of an NFL initiative to celebrate international diversity Read more »

Justin Fields on How Bears Pass Game Can Improve, Score Points

How Bears can improve pass game, per Justin Fields originally appeared on NBC Sports Chicago In the Bears 20-12 loss to the Giants, Justin Fields completed 11-22 passes for 174 ... Read more »

Why We Can Thank Days Of Our Lives For The Creation Of Harley Quinn

HBO Max/YouTube In the current DC Comics landscape, one of its most popular characters came not from the panels of a comic book but from a children’s show. First appearing ... Read more »

Denver Broncos lose RB Javonte Williams to knee injury in loss to Las Vegas Raiders

Denver Broncos lose RB Javonte Williams to knee injury in loss to Las Vegas Raiders LAS VEGAS — Broncos running back Javonte Williams was taken to the locker room on ... Read more »

Jets delivering when they needed it most is only thing that matters

The ball was floating high and far and deep, and many of the 66,578 folks inside Acrisure Stadium surely believed something good had to happen. Good things happen to the ... Read more »

Are Michael Cera And Alia Shawkat From Arrested Development Friends In Real Life?

Featureflash Photo Agency/Shutterstock One of the funniest family dynamics in “Arrested Development” is between George Michael Bluth (Michael Cera) and Maeby Fünke (Alia Shawkat). At the beginning of the series, ... Read more »

Despite Hurricane Ian’s punch, wedding day saved on wet Pawleys Island

Mary Lord and A.J. McCullough’s children’s wedding in South Carolina was almost derailed by Hurricane Ian. AP Photo/Allen Breed PAWLEYS ISLAND, S.C. — Saturday turned out to be a sparklingly ... Read more »

Velus Jones Jr. Will Let Costly Muffed Punt ‘Motivate Him' for Next Time

Velus will let muff ‘sit and hurt,’ ‘motivate him’ for next time originally appeared on NBC Sports Chicago EAST RUTHERFORD, N.J. – Velus Jones Jr. had been visualizing this moment ... Read more »
Breaking thailand news, thai news, thailand news Verified News Story Network