Boeing Co. will pay $200 million to settle charges that the company and its former CEO misled investors about the safety of its 737 Max after two of the airliners crashed, killing 346 people.
Neither Boeing nor Muilenburg admitted wrongdoing, but they offered to settle and pay penalties, including $1 million to be paid by Muilenburg, who was ousted in December 2019, nine months after the second crash. Boeing said it has made “broad and deep changes across our company in response to those accidents” to improve safety and quality.“Today’s settlement is part of the company’s broader effort to responsibly resolve outstanding legal matters related to the 737 Max accidents in a manner that serves the best interests of our shareholders, employees and other stakeholders,” said the Arlington, Virginia-based company.
$200M? They gave their ex-CEO $60M payout!
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Boeing will pay $200 million to settle charges with SECBoeing Co. will pay $200 million to settle allegations that the company and its former CEO misled investors about the safety of its 737 Max after two of the airliners crashed, killing 346 people.
Source: chicagotribune - 🏆 8. / 91 Read more »
Boeing Will Pay $200 Million After SEC Says It Misled Investors About 737 MAX CrashesBoeing’s 737 MAX jets were grounded for nearly two years after two deadly crashes in 2018 and 2019—and on Thursday, the company resolved claims that it misled investors in the early months of that crisis. That's a very mediocre punishment. Does this satisfy its global investors or just the US investor. To them just the cost of doing business Yes this harsh penalty will sure help investors confidence. Let's just remember Boeing knew of the problem with their programming yet continued to blame the pilots. Even as they knew their programming overrode the pilots controls and still does.
Source: Forbes - 🏆 394. / 53 Read more »
Boeing Will Pay $200 Million To Settle Charges with SECThe SEC said Thursday it charged the aircraft maker and former CEO Dennis Muilenburg with making significant misleading public statements about the plane and an automated flight-control system implicated in the crashes. — The Associated Press Not enough.
Source: snopes - 🏆 228. / 63 Read more »
Boeing pays $200 million to settle SEC charges over 737 MaxBoeing Co. will pay $200 million to settle charges that the company and its former CEO misled investors about the safety of its 737 Max after two of the airliners crashed, killing 346 people. The Securities and Exchange Commission said Thursday that it charged the aircraft maker and former CEO Dennis Muilenburg with making significant misleading public statements about the plane and an automated flight-control system that was implicated in the crashes in Indonesia and Ethiopia. Another case of a peanuts fine for a mega corporation. Who gets that money? Hopefully families of the crash victims. Culpable homicide may be a more appropriate charge for Boeing?
Source: AP - 🏆 728. / 51 Read more »
Boeing pays $200 million to settle SEC charges over 737 MaxThe Securities and Exchange Commission said Thursday that it charged the aircraft maker and former CEO Dennis Muilenburg with making significant misleading public statements about the plane and an automated flight-control system that was implicated in the crashes in Indonesia and Ethiopia. How does that happen in reality? Like a $200M wire transfer? An ACH? Where does it go? The SEC sends Boeing a routing and acct number? I’ve always wondered…
Source: KIRO7Seattle - 🏆 271. / 63 Read more »
Boeing pays $200 million to settle SEC charges over 737 Max safety claimsBoeing Co. will pay $200 million to settle charges that the company and its former CEO misled investors about the safety of its 737 Max after two of the airliners crashed, killing 346 people. Chump change. Should be at least $500M and jail time. Watch the documentary. They all knew and ignored it. Covered it up. Killed 300+ people. Imagine if those planes went down in US not overseas Is that what those lives were worth? That's $578,032 per dead person. 🤔
Source: NBCNews - 🏆 10. / 86 Read more »