Investors misled? Boeing pays $200 million in fines

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Boeing is paying millions in dispute with the US Securities and Exchange Commission after the two crashes of the 737 Max jet. The SEC had accused the company and then-Boeing boss Dennis Muilenburg of misleading investors about the safety of its 737 Max. It has now been announced that Boeing must pay a fine of 200 million dollars (about 203 million euros). Muilenburg will have to pay a million dollars himself.

The fines were approved, but any wrongdoing was denied. “In times of crisis and tragedy, it is especially important that public companies and executives provide the markets with complete, fair and truthful information,” said SEC Chairman Gary Gensler. Boeing and Muilenburg misled investors by ensuring the safety of the 737 Max despite serious safety concerns. Boeing said in a statement that the settlement concluded the SEC’s investigation and that the company “will not admit or deny the allegations.”

Crashes and serious crisis
The Airbus rival had agreed with the Justice Department in early 2021 to pay more than $2.5 billion in fines for allegations of fraud and conspiracy related to the scandal. After two crashes with a total of 346 deaths, Boeing was heavily criticized – the company entered a crisis. The problem pilot 737 Max was not allowed to take off after two crashes for about a year and a half.

Source: Krone

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