9/22/2022, 10:35 PM (Source: TeleTrader)
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Boeing set to settle 737 MAX case with SEC - report

The Boeing Company is set to reach a settlement with the United States Securities and Exchange Commission (SEC) over the agency's investigation related to the crashes of the aerospace giant's 737 MAX crashes in Indonesia and Ethiopia in 2018 and 2019, the Wall Street Journal reported on Thursday citing people familiar with the matter.

The settlement agreement is expected to be announced before the end of the week, but the financial terms of it are not known.

In May 2019, the SEC launched a probe to look into allegedly misleading statements the company and its then-CEO Dennis Muilenburg made about the fatal crashes, which caused hundreds of deaths and led to the model being grounded for more than a year.

Baha Breaking News (BBN) / NP