Boeing will pay $200 million to settle allegations that it deceived investors over the 737 Max  

• Boeing will pay $200 million
• In response to allegations that it deceived investors about two fatal 737 Max crashes,
• A million fine will also be paid by Mr. Muilenburg as part of the agreement.

 In response to allegations that it deceived investors about two fatal 737 Max crashes, Boeing will pay $200 million (£177.5 million).

The US stock market watchdog claimed that the aircraft behemoth and its former CEO Dennis Muilenburg misrepresented safety-related issues.

In an effort to improve its reputation, Boeing “placed profits over people,” according to the Securities and Exchange Commission (SEC).

After two crashes that resulted in 346 fatalities, the 737 Max was grounded for 20 months.

A $1 million fine will also be paid by Mr. Muilenburg as part of the agreement.

According to SEC chairman Gary Gensler, “it is especially crucial that public firms and leaders deliver full, fair, and transparent disclosures to the markets during times of crisis and tragedy.”

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• He continued, “Both Boeing and Mr. Muilenburg failed in this most basic task.”

Additionally, according to the SEC’s statement, neither Boeing nor Mr. Muilenburg admitted nor refuted the regulator’s conclusions.

Boeing responded to the SEC’s announcement by saying, “We will never forget those lost on Lion Air Flight 610 and Ethiopian Airlines Flight 302, and we have made broad and deep reforms across our company in response to both events.”

The business continued, “Fundamental reforms that have improved our culture of safety, quality, and transparency.” These changes “have strengthened our safety processes and monitoring of safety issues.”

According to the SEC, a fund will be established for investors who lost money between 2018 and 2019 as a result of the false information.

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