By Davit Kerakossian
Today, the Securities and Exchange Commission indicted The Boeing Company (NYSE:) and its former CEO, Dennis A.
In accordance with the orders of the SEC, after the first crash, Boeing and Muilenburg learned that the Maneuvering Characteristics Augmentation System (MCAS) was an ongoing safety issue for the aircraft, but nonetheless assured the public that the 737 Max was safe. After the second crash, the company and Muilenburg misled investors by providing assurances that there were no slips or loopholes in the certification process regarding MCAS, even though they knew of serious safety concerns.
The company and Muilenburg agreed to cease and desist orders for the SEC that include fines of $200 million and $1 million, respectively.