Money
Boeing will pay a $200m settlement over its 737 crashes
Boeing will pay a $200m settlement over accusations it misled investors about its controversial 737 Max aircraft
Boeing will pay a $200m settlement to investors after misleading them about its controversial 737 Max aircraft.
The settlement follows a wide sweeping investigation by America’s Securities and Exchange Commission.
The SEC was probing allegations of misleading statements made by Boeing’s former-Chief Executive about the troubled jets, which crashed in both Indonesia and Ethiopia.
This CEO led the company through both incidents, which took 346 lives.
The SEC investigated how Boeing communicated with investors about the crashes, as well as its response to the crisis.
The incidents wiped billions from the company’s market value.
In a seperate investigation, the U.S. Justice Department found a former Boeing pilot misled air-safety regulators about the aircraft’s flight-control system.
Boeing paid $2.5 billion following this probe, with most of the settlement provided to airline customers and families of the crash victims.