Did Boeing pay $200 million to settle US charges it misled investors about 737 Max?
Did Boeing pay $200 million to settle US charges it misled investors about 737 Max? Topline. Boeing agreed Thursday to pay $200 million to settle Securities and Exchange Commission charges that it misled investors after two deadly 737 MAX crashes killed 346 people and brought its fleet to a 20-month standstill—the latest settlement struck by Boeing after the 737 disaster.
Is the Max 8 safe now?
The Boeing 737 MAX has had its fair share of troubles since it entered service but has been safely flying since December 2020, with hundreds of units in the sky every day.
How much was CEO of Boeing paid?
Calhoun took home $7 million in pay last year, slightly less than his $7.4 million compensation in 2021, Boeing stated in the filing. His total compensation, which includes longterm incentives that have not yet vested, measured $22.5 million in 2022, an increase from about $21 million the previous year.
Did the families of 737 Max sue?
The company has settled about three-quarters of the civil claims that victims' families have filed against it and has resolved investigations by federal prosecutors and securities regulators. All but a few cases from the first crash have settled.
What Boeing blames for its big loss?
The company blamed the unexpected loss on “abnormal production costs” as it tried both to deliver the remaining backlog of 737 Max jets and to step up deliveries of the 787 Dreamliners.
What is the Boeing 737 MAX now called?
The move away from the MAX name has been a subtle process and Boeing has begun to use the name 737 MAX and 737-8(7 through 10) interchangeably. This way they are transitioning away from the MAX name toward the normal naming convention of modern Boeing aircraft.
How much money did Boeing have to pay in compensation?
As a result, Boeing agreed to establish a $500 million fund to compensate the families of those who died, pay a fine of nearly $244 million and pay $1.77 billion in compensation to airlines.
Did Boeing pay the families of the 737 MAX?
It agreed to pay $500 million to victims' beneficiaries as part of its broader $2.5 billion Justice Department settlement. It reached a $237.5 million settlement with shareholders over board oversight of 737 MAX issues.
Why is Boeing paying $200 million to the SEC?
Boeing pays $200 million to settle SEC charges over 737 Max safety claims. The SEC charged the aircraft maker and its former CEO with making misleading statements about the plane, which was implicated in two crashes that killed 346 people.
Do families of plane crash victims get money?
The airline can be sued for the wrongful death of the passenger. In general, the family can recover financial compensation, known as “damages,” for loss of support, and children can recover for loss of a parent's nurture, care and guidance.
Did the CEO of Boeing get a bonus?
ARLINGTON, Va. (AP) — Boeing rewarded CEO David Calhoun with compensation valued at $22.5 million for 2022 but won't pay him a $7 million bonus because the company will fail to get its new 777X jetliner in service by the end of this year.
How much did Boeing lose on the 737 Max lawsuit?
It reached a $237.5 million settlement with shareholders over board oversight of 737 MAX issues. The company also agreed to pay $200 million to resolve a Securities and Exchange Commission case related to alleged misleading statements after the crashes.