Boeing and its former CEO failed to provide truthful disclosures to the markets about its 737 MAX aircraft, the US Securities and Exchange Commission says.
Boeing ‘misled investors’ about 737 MAX
Boeing will pay $US200 million ($A301 million) to settle charges from the US Securities and Exchange Commission that it misled investors about the 737 MAX that was grounded for 20 months after two fatal crashes killed 346 people.
The SEC also said former Boeing Chief Executive Dennis Muilenburg had agreed to pay $US1 million ($A1.5 million).
“In times of crisis and tragedy, it is especially important that public companies and executives provide full, fair, and truthful disclosures to the markets,” SEC Chair Gary Gensler said.
“The Boeing Company and its former CEO, Dennis Muilenburg, failed in this most basic obligation.”