After two crashes, the group is said to have deceived investors about the safety of the problem plane "737 Max". Boeing will "neither admit nor deny" the allegations, but will now pay $200 million.
The aviation group Boeing is in a dispute with the US Securities and Exchange Commission after the two crashes of the unfortunate jet 737 maximum pay a large sum of millions. The SEC had accused the group and the then Boeing boss Dennis Muilenburg of investors about the security of its 737 maximum to have deceived. The Securities and Exchange Commission announced that Boeing would have to pay a $200 million fine and Muilenburg a $1 million fine. Neither Boeing nor Muilenburg have admitted wrongdoing, but both agreed to the payment.
"In times of crisis and tragedy, it is especially important that public companies and executives provide markets with full, fair and truthful information," said SEC Chairman Gary Gensler. Boeing and Muilenburg misled investors by assuming the safety of the 737 maximum promised, even though they knew about serious safety concerns. Boeing said in a statement that the settlement concluded the SEC's investigation and the company "will neither admit nor deny" the allegations.
The company was heavily criticized after two crashes with a total of 346 deaths - the group slipped into a crisis. The problem flyer 737 maximum was banned from taking off for a long time after the two crashes. In early 2021, Boeing settled with the Justice Department to pay more than $2.5 billion in fines over fraud and conspiracy allegations related to the scandal.