Boeing Strikes Plea Deal With DOJ For Defrauding US Regulator Over 737 MAX Safety: Victims' Lawyer Calls It 'Deceptive And Generous…Not In Public Interest'
Portfolio Pulse from Shanthi Rexaline
Boeing has agreed to plead guilty to criminal conspiracy for misleading the FAA about the safety of its 737 MAX aircraft. The company will pay up to $487.2 million in fines and spend $455 million on compliance and safety programs. This deal, subject to court approval, includes three years of court-supervised probation. The plea deal has been criticized by victims' families as insufficient.
July 08, 2024 | 6:25 am
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Boeing has agreed to plead guilty to criminal conspiracy for misleading the FAA about the safety of its 737 MAX aircraft. The company will pay up to $487.2 million in fines and spend $455 million on compliance and safety programs. This deal, subject to court approval, includes three years of court-supervised probation. The plea deal has been criticized by victims' families as insufficient.
The guilty plea and associated fines and compliance costs are likely to negatively impact Boeing's financials in the short term. Additionally, the negative publicity and criticism from victims' families could further pressure the stock price.
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