Boeing Co will pay $200 million to settle civil charges by the U.S. Securities and Exchange Commission that it misled investors about its 737 MAX, which was grounded for 20 months after two fatal crashes killed 346 people, the agency said on Thursday.
The Boeing 737 MAX aircraft is displayed at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. REUTERS/Peter Cziborrawill pay $200 million to settle civil charges by the U.S. Securities and Exchange Commission that it misled investors about its 737 MAX, which was grounded for 20 months after two fatal crashes killed 346 people, the agency said on Thursday.
The SEC charged Boeing and Muilenburg "with making materially misleading public statements following crashes of Boeing airplanes in 2018 and 2019." Boeing has resolved most claims from the two fatal crashes. Last year it acknowledged liability for compensatory damages in lawsuits filed by families of the 157 people killed in the 2019 Ethiopian Airlines 737 MAX crash. A small number of trials are expected to begin in 2023 to help resolve claims.
In January 2021, Boeing agreed to pay $2.5 billion in fines and compensation to resolve a U.S. Justice Department criminal investigation into the 737 MAX crashes. In December 2019, Boeing fired Muilenburg after the company clashed with regulators over the timing of the 737 MAX's return to service. A lawyer for Muilenburg, who did not admit or deny wrongdoing, did not immediately respond to a request for comment.
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