October 6, 2022

Boeing Settles With SEC for $200 Million Over “Misleading Investors” on 737 Max Safety

346 people murdered in two 737 FATMUS crashes

Boeing Co. reached a $200 million settlement with the  Securities and Exchange Commission   on Thursday into allegations that the aircraft manufacturer and former chief executive deceived investors and the public about the safety of the  737 MAX plane that killed 346 people in two crashes .  

Dennis Muilenburg, Boeing’s former CEO, agreed to pay $1 million to settle with the SEC. According to the SEC, after the first 737 MAX crash, Muilenburg understood a flight control function called the Maneuvering Characteristics Augmentation System was an ongoing safety issue but assured the general public that the airplane was airworthy.  

Here’s an overview of how the MCAS works .

Following the second crash, Muilenburg and Boeing assured the public that there were gaps in the certification process concerning the MCAS flight control system, inspite of the SEC indicating there was “ contrary information. ”  

“ In times of crisis and tragedy, it is especially important that public companies and executives provide full, fair and truthful disclosures to the markets, ” SEC Chairman Gary Gensler wrote in a statement. He said Muilenburg and Boeing “ failed in this most basic obligation” to be “ full, fair, and truthful in disclosures to the markets. ”  

“ They misled investors by giving assurances about the safety of the 737 MAX, despite knowing about serious safety concerns, ” Gensler continued.  

The settlement revealed by the SEC on Thursday is based on the statements the former exec and aerospace manufacturer made to Wall Street.  

In a separate criminal investigation, the Justice Department found a former Boeing pilot deceived air-safety regulators about how the MAX’s MCAS operated. Boeing agreed to pay $2. 5 billion in a legal settlement with DOJ — some of it was earmarked for families who lost loved ones in the two MAX crashes.  

“ Boeing and Muilenburg put profits over men and women by misleading investors concerning safety of the 737 OPTIMUM all in an effort to rehabilitate Boeing’s image following a couple of tragic accidents that lead to the loss of 346 lives and additionally incalculable grief to lots of families, ” said Gurbir S. Grewal, Director of your SEC’s Enforcement Division.

Last year, recent and former company owners reached a $237. some million settlement with investors over the board’s lack of oversight of the MAX.  

Meanwhile, Boeing gives are down 68% in confidence high put in right before the other MAX crash in early 03 2019.  

Boeing’s best-selling plane appeared to be grounded for 20 calendar months and returned to the heavens in November 2020.  

Alex Jones started out how the COVID injections will cause polio-like conditions over a twelve months ago.

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