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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-09-23T16:50:00
Boeing agreed to pay $200 million to settle charges laid by the Securities and Exchange Commission (SEC) that it misled investors regarding what caused two crashes of 737 MAX airplanes in 2018 and 2019 that killed 346 people.
The SEC found Boeing and its former chief executive officer, Dennis Muilenburg, made materially misleading statements regarding the role a flight control system on the 737 MAX airplane—the Maneuvering Characteristics Augmentation System (MCAS)—had in causing one crash in Indonesia in 2018 and another in Ethiopia in 2019.
After the first crash, Boeing and Muilenburg “knew that MCAS posed an ongoing airplane safety issue, but nevertheless assured the public that the 737 MAX airplane was ‘as safe as any airplane that has ever flown the skies,’” the SEC said Thursday in a press release. “Later, following the second crash, Boeing and Muilenburg assured the public that there were no slips or gaps in the certification process with respect to MCAS, despite being aware of contrary information.”
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2024-07-08T18:41:00Z By Aaron Nicodemus
Boeing will plead guilty to a felony and pay an additional $243.6 million for violating the terms of a 2021 settlement it made with the Department of Justice related to safety lapses that contributed to the crash of two airplanes.
2023-09-29T14:41:00Z By Kyle Brasseur
Aerospace giant Boeing agreed to pay $8.1 million as part of a settlement with the Department of Justice addressing allegations it submitted false claims regarding military aircraft contracts it had with the Navy.
2023-02-13T20:08:00Z By Aaron Nicodemus
A federal judge in Texas ruled against a request by the families of those killed in two Boeing 737 MAX crashes to alter the terms of a 2021 deferred prosecution agreement between the company and the Department of Justice to add an independent compliance monitor.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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