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. The SEC said Boeing and Muilenburg knew that the flight system, known as MCAS, posed a safety issue but promised the public that the plane was safe. The SEC accused Boeing of misleading investors in a press release after the Indonesia crash which said the plane was "as safe as any airplane that has ever flown the skies." Boeing knew when it made that claim that MCAS would need to be fixed and was already designing changes, the SEC said.

Source: Ethiopian News September 23, 2022 01:54 UTC