12:39:42 EST Mon 30 Dec 2024
Enter Symbol
or Name
USA
CA



Boeing CDR (CAD Hedged)
Symbol BA
Shares Issued 550,000
Close 2024-07-25 C$ 32.25
Market Cap C$ 17,737,500
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Globe/wire say "sweetheart" Boeing plea deal challenged

2024-07-26 07:51 ET - In the News

The Globe and Mail reports in its Friday edition that U.S. District Judge Reed O'Connor should reject a "sweetheart" plea deal the Department of Justice struck with Boeing, relatives of 15 of the 346 people killed in two fatal 737 Max crashes said Thursday. A Reuters dispatch to The Globe says that on Wednesday, the planemaker finalized an agreement to plead guilty to a criminal fraud conspiracy charge and pay at least $243.6-million (U.S.) after breaching a 2021 deferred prosecution agreement. Family members said in a court filing in Texas that they will submit a comprehensive objection to the plea deal by next week, arguing that there are a number of issues, including its "outdated and misleading statement of facts," use of "inaccurate sentencing guidelines" and "ambiguous restitution commitment" by Boeing. The families cited Justice O'Connor in a February, 2023, ruling, "Boeing's crime may properly be considered the deadliest corporate crime in U.S. history." The DOJ told Boeing earlier this month it could accept a settlement that branded the planemaker a felon or fight the charge in court. It said in May that Boeing had breached its obligations in the agreement that shielded the planemaker from criminal prosecution.

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