Boeing to Pay SEC $200 Million Fine for Misleading Investors on 737 MAX Safety Inspections
Boeing announced that it had reached a $200 million settlement with the Securities and Exchange Commission (SEC) after allegations that it deceived its own investors and the public about the safety of its best-selling 737 MAX jetliner.
The Boeing 737 MAX killed 346 people in two separate fatal crashes, forcing the Federal Aviation Administration (FAA) to ground the airplane for 20 months and only allowing it to fly again in November 2020.
The deadly crashes occurred in the waters off of Indonesia and in Ethiopia in late 2018 and early 2019.
“In times of crisis and tragedy, it is especially important that public companies and executives provide full, fair, and truthful disclosures to the markets,” said SEC Chairman Gary Gensler in a Sept. 22 statement….