“Boeing and [ex-CEO Dennis] Muilenburg put profits over people by misleading investors about the safety of the 737 Max,' the SEC said Thursday.
U.S. securities regulators late Thursday said that Boeing Co. and former Chief Executive Dennis Muilenburg have settled some charges in an investigation related to the aerospace and defense company’s deadly 737 Max crashes a few years back.
Boeing BA, -3.20% will pay $200 million while Muilenburg will pay $1 million, the U.S. Securities and Exchange Commission said. Shares of Boeing edged higher in the extended session, after ending the regular trading day down 3.2% and underperforming the S&P 500 index SPX, -0.84%. Boeing and Muilenburg did not admit or denied the findings, but consented to cease-and-desist orders that included the fines. The SEC established a fund to benefit harmed investors, it said.
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