Boeing to pay SEC $200m to settle charges it misled investors over 737 MAX safety
Some six weeks after the March 2019 crash of Ethiopian Airlines Flight 302 and the grounding of the entire 737 MAX fleet, the SEC said Muilenburg,"though aware of information calling into question certain aspects of the certification process relating to MCAS, told analysts and reporters that 'there was no surprise or gap ... that somehow slipped through [the] certification process' for the 737 MAX and that Boeing had 'gone back and confirmed again ...
SEC chair Gary Gensler said:"There are no words to describe the tragic loss of life brought about by these two airplane crashes. In times of crisis and tragedy, it is especially important that public companies and executives provide full, fair, and truthful disclosures to the markets. Gurbir Grewal, director of the SEC's Enforcement Division, added:"Boeing and Muilenburg put profits over people by misleading investors about the safety of the 737 MAX all in an effort to rehabilitate Boeing's image following two tragic accidents that resulted in the loss of 346 lives and incalculable grief to so many families.
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