Boeing and its CEO Muilenburg knew that MCAS was an airplane safety concern, but still assured the public that the 737 MAX was “safe.”
Turn in the case Boeing: the Securities and Exchange Commission, the American Consob, has accused Boeing Company and its former CEO, Dennis Muilenburgof having made materially misleading public statements following the Boeing aircraft accidents in 2018 and 2019.
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The incidents involved the 737 MAX aircraft and a flight control function called the Maneuvering Characteristics Enhancement System (Mcas). According to the orders of the SEC, after the first accident Boeing and Muilenburg knew that the MCAS represented a security issue of the airplane, but still assured the public that the 737 MAX was “as safe as any that has ever flown the skies.”
Subsequently, following the second incident, Boeing e Muilenburg they assured the public that there were no errors or gaps in the certification process with respect to Mcas, despite being aware of information to the contrary.
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“There are no words to describe the tragic loss of human life caused by these two plane crashes, “Sec chairman Gary Gensler said.” In times of crisis and tragedy, it is especially important that public companies and executives provide complete, fair and truthful information to markets, Gensler said. there Boeing Company and its former CEO, Dennis Muilenburg, have failed in this fundamental obligation. They misled the investors providing guarantees on the safety of the 737 MAX, despite having been aware of serious safety issues. The SEC continues to strive to eradicate misconduct when public companies and their executives fail to fulfill their fundamental obligations towards the public investor. “
According to the order of the SEC, one month after the volo Lion Air 610, and aircraft 737 MAXpreceived in Indonesia in October 2018, Boeing issued a statement printed, edited and approved by Muilenburg, which selectively highlighted some facts from an official report from the government of Indonesia suggesting that pilot error and poor aircraft maintenance had contributed to the crash.
The press release also provided aircraft safety insurancenot disclosing that an internal safety review determined that MCAS posed an ongoing “airplane safety problem” and that Boeing had already begun redesigning MCAS to address that problem, under orders from the SEC.
Circa six weeks after the March 2019 crash of Ethiopian Airlines Flight 302, another 737 MAX and the international regulators grounding of the entire 737 MAX fleet, Muilenburg, although aware of information that questioned some aspects of the certification process related to Mcas, told analysts and reporters that “there is no ‘was no surprise or somehow escaped gap in the certification process “for the 737 MAX and that.” Boeing had “retraced and confirmed all the passages in the design processes and certification that consistently produce safe airplanes. “
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