Boeing has agreed to pay $200 million (£178m) to settle allegations that it misled investors about the safety of its 737 Max plane. Neither Boeing nor Muilenburg admitted wrongdoing, but they agreed to orders that include penalties of $200m dollars for the company and $1m (£889,995) for the former boss. Muilenburg was fired in December 2019 after Boeing clashed with regulators over the timing of the 737 Max's return to service. "Boeing and Muilenburg put profits over people by misleading investors about the safety of the 737 Max all in an effort to rehabilitate Boeing's image" after the crashes, said Gurbir Grewal, director of the SEC's enforcement division. Last year, Boeing acknowledged liability for compensatory damages in lawsuits filed by families of the 157 people killedin the 2019 crash.

Source: Ethiopian News September 24, 2022 00:06 UTC