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Friday, December 9, 2022

Boeing Agrees to $200 Million Settlement With The SEC. The U.S. Securities and Exchange Commission is set to receive a substantial sum from Boeing | Atlas News

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The U.S. Securities and Exchange Commission is expected to receive a substantial amount from Boeing as part of the $200 million settlement that the company has reached with the SEC.

The manufacturer of the aircraft was charged with misrepresenting investors on the 737 MAX, which was shut down for 20 months following two terrible incidents that claimed 346 lives. In order to satisfy the allegations relating to statements made after the incident, Boeing has agreed to pay $200 million. The SEC also disclosed that Dennis Muilenburg, a former CEO of Boeing, had consented to pay $1 million to resolve allegations relating to the statements. The two tragedies, which happened in October 2018 and March 2019, each carried 346 passengers, all of whom died. Additionally, the crashes led to a worldwide grounding of aircraft. The grounding was initially initiated in late 2020.

Source: https://theatlasnews.co/business/2022/09/22/boeing-agrees-to-200-million-settlement-with-the-sec/

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