Explainer-How a Boeing plea deal could affect the planemaker

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 58 sec. here
  • 5 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 63%

Justice Department News

Boeing,Plea Deal,Fatal Crashes

The U.S. Justice Department will criminally charge Boeing with fraud over two fatal crashes and ask the planemaker to plead guilty or face a trial, people...

- The U.S. Justice Department will criminally charge Boeing with fraud over two fatal crashes and ask the planemaker to plead guilty or face a trial, people familiar with the matter said on Sunday.

Boeing agreed to overhaul compliance practices to prevent violation of U.S. fraud laws and submit regular reports. But the January mid-flight emergency occurred two days before the agreement expired. "In the world of government contracting, an indictment or finding of criminal liability can have a significant impact on a company," said Franklin Turner, a government contracts lawyer at McCarter & English.

Boeing would likely be forced to pay restitution, an amount to be decided by a judge. The company already paid $2.5 billion in penalties and restitution in 2021 in connection with the original conspiracy charge, which included a criminal penalty and compensation for customers and relatives of crash victims.

Companies typically fight against these terms. The outside firms, which are selected by the DOJ, act as the government’s eyes and ears. The company foots the bill.The plea would not resolve or provide immunity to the company for any other conduct, including the Jan. 5 incident. Uvalde shooting indictments: What to know about the charges against two former school police officers and what comes next

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in LAW

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Under pressure on plane safety, Boeing is buying stressed supplier Spirit for $4.7 billionARLINGTON, Va. (AP) — Boeing announced plans to acquire key supplier Spirit AeroSystems for $4.7 billion, a move that it says will improve plane quality and safety amid increasing scrutiny by Congress, airlines and the Department of Justice.
Source: SooToday - 🏆 8. / 85 Read more »