US charges Boeing with misleading investors on 737 MAX safety, fined US$200m

Published Fri, Sep 23, 2022 · 07:38 AM
    • Boeing was fined US$200 million over its misleading assurances about the safety of the 737 MAX airplane, following two deadly crashes.
    • Boeing was fined US$200 million over its misleading assurances about the safety of the 737 MAX airplane, following two deadly crashes. PHOTO: REUTERS

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    US SECURITIES officials fined Boeing US$200 million over the aviation giant’s misleading assurances about the safety of the 737 MAX airplane following two deadly crashes, regulators announced on Thursday.

    Boeing agreed to the penalty to settle charges it “negligently violated the antifraud provisions” of US securities laws, the Securities and Exchange Commission said in a statement.

    Boeing’s former chief executive, Dennis Muilenburg, also agreed to pay US$1 million to settle the same charges in the civil case. AFP

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