Search Results

No Search Results Found

Search Results

No Search Results Found

Explore HomeNewsPodcastsBreaking NewsSocial Watch Live Infowars NetworkThe Alex Jones ShowThe War Room with Owen ShroyerThe American Journal More Banned.VideoInfowars StoreArchiveRSSDownload Our App

Terms of Service


Advertise with us


Media Inquiries


U.S. News

Boeing Settles With SEC for $200 Million Over “Misleading Investors” on 737 Max Safety

by Zero Hedge
September 23rd 2022, 10:31 am
346 people killed in two 737 MAX crashes
Image Credit:
Jemal Countess/Getty Images

Boeing Co. reached a $200 million settlement with the Securities and Exchange Commission on Thursday into allegations that the aircraft manufacturer and former chief executive deceived investors and the public about the safety of the 737 MAX plane that killed 346 people in two crashes

Dennis Muilenburg, Boeing’s former CEO, agreed to pay $1 million to settle with the SEC. According to the SEC, after the first 737 MAX crash, Muilenburg understood a flight control function called the Maneuvering Characteristics Augmentation System was an ongoing safety issue but assured the public that the airplane was airworthy. 

Here’s an overview of how the MCAS works.

After the second crash, Muilenburg and Boeing assured the public that there were gaps in the certification process concerning the MCAS flight control system, despite the SEC indicating there was “contrary information.” 

“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 Chairman Gary Gensler wrote in a statement. He said Muilenburg and Boeing “failed in this most basic obligation” to be “full, fair, and truthful in disclosures to the markets.” 

“They misled investors by providing assurances about the safety of the 737 MAX, despite knowing about serious safety concerns,” Gensler continued. 

The settlement revealed by the SEC on Thursday is based on the statements the former exec and aerospace manufacturer made to Wall Street. 

In a separate criminal investigation, the Justice Department found a former Boeing pilot deceived air-safety regulators about how the MAX’s MCAS operated. Boeing agreed to pay $2.5 billion in a legal settlement with DOJ — some of it was earmarked for families who lost loved ones in the two MAX crashes. 

“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,” said Gurbir S. Grewal, Director of the SEC’s Enforcement Division.

Last year, current and former company directors reached a $237.5 million settlement with shareholders over the board’s lack of oversight of the MAX. 

Meanwhile, Boeing shares are down 68% off the record high put in right before the second MAX crash in early March 2019. 

Boeing’s best-selling plane was grounded for 20 months and returned to the skies in November 2020. 

Alex Jones exposed how the COVID injections will cause polio-like symptoms over a year ago.

Alex Jones' book The Great Reset: And The War for the World is now available! Order the blueprint to defeat the NWO today!

In case you missed it...
U.S. News

U.S. News

Shock Video: Child Strokes Drag Queen’s Groin During Provocative Dance Performance

posted 8 hours ago

U.S. News

FBI SWAT Raids Home of Catholic Pro-Life Activist In Front Of ‘Screaming’ Children

posted 10 hours ago

U.S. News

Nancy Pelosi ‘Booed & Heckled’ at NYC’s Global Citizen Music Festival

posted 11 hours ago

U.S. News

Donald Trump: Joe Biden Is ‘Cognitively Impaired,’ May Lead Us to WWIII

posted 18 hours ago

View More From U.S. News
Terms of ServiceDMCAAdvertise with usAffiliatesMedia InquiriesAbout