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​Boeing and Former CEO to Pay $200 Million and $1 Million to Settle SEC Charges

Stock Markets Sep 22, 2022 05:16PM ET
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© Reuters. ​Boeing and Former CEO to Pay $200 Million and $1 Million to Settle SEC Charges
 
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By Davit Kirakosyan

Today, The Securities and Exchange Commission charged The Boeing Company (NYSE:BA) and its former CEO, Dennis A. Muilenburg, with making materially misleading public statements following crashes of Boeing airplanes in 2018 and 2019.

According to the SEC’s orders, after the first crash, Boeing and Muilenburg knew that the Maneuvering Characteristics Augmentation System (MCAS) posed an ongoing airplane safety issue, but nevertheless assured the public that the 737 MAX airplane was safe. Following the second crash, the company and Muilenburg misled investors by providing assurances that there were no slips or gaps in the certification process with respect to MCAS, despite knowing about serious safety concerns.

The company and Muilenburg consented to cease-and-desist SEC orders that include penalties of $200 million and $1 million, respectively.

​Boeing and Former CEO to Pay $200 Million and $1 Million to Settle SEC Charges
 

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Comments (6)
Samuel Lopez
Samuel Lopez Sep 22, 2022 7:33PM ET
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Whos get the 200 million? Do the families that where devastated and lost their loved ones get snything?
Kurz M Ndandu
Kurz M Ndandu Sep 22, 2022 7:33PM ET
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I hope so. but I doubt it. government will keep most of it
Bubba Born
Bubba Born Sep 22, 2022 7:02PM ET
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Muilenburg should have to pay back all his bonuses so the money can be returned to the stockholders as a loss in profits.
Jim Hernandez
Jim Hernandez Sep 22, 2022 6:33PM ET
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What Boeing did was wrong, any way you look at it. To deceive the public by sacrificing safety for profit $$$, and result in direct loss of life, should be criminal penalties of *****.. possibly 1degree because they knew potential loss of life could be the outcome. No different that a bank robber carrying a weapon to commit a crime and is forced to use it when they are threatened. Here you have a company making profit off others and they end up ******innocent people with full knowledge and means to stop it. just saying
ge Kret
ge Kret Sep 22, 2022 5:51PM ET
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They should do jail time!
Max Malcy
Max Malcy Sep 22, 2022 5:51PM ET
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well hard to jail a company but the CEO should be jailed indefinitely for manslaughter after his statements basically inadvertently caused more people to die in a second crash
Oscar Romero
Oscar Romero Sep 22, 2022 5:51PM ET
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For sure. If you or I were charged with these crimes, they would lock us up in jail and throw away key. Lol
Philip Moore
Philip Moore Sep 22, 2022 5:33PM ET
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So, the shareholders lost money because of the crashes and now they lose more money paying ransom to the government. What a joke! Return the money to shareholders if you really mean it.
Nata Hook
Nata Hook Sep 22, 2022 5:24PM ET
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These fines are a fraction of the profit. Good deal for Boeing and Muilenburg.
Damian Zubrzycki
Damian Zubrzycki Sep 22, 2022 5:24PM ET
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Muilenberg took 200mil bonus before he left so that 1 mil fine is a joke.
 
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