Boeing pleaded guilty in crash cases, shares rose

Boeing (NYSE:BA) stock moved higher after the aircraft manufacturer agreed to plead guilty to conspiracy to defraud the United States, admitting it misled the Federal Aviation Administration (FAA) during the evaluation of the 737 MAX.

As a result of the agreement Boeing will not stand trail and the US will not pursue prosecution of Boing executives.

But, the plea agreement will cost the engineer up to $487 million.

It follows two fatal crashes involving the 737 MAX in 2018 and 2019, which claimed 346 lives, and is separate from more recent incidents and scrutiny over Boeing’s checks and quality control.

Families of the crash victims are said to oppose the plea deal.

In New York, Boeing stock gained $3.52 or 1.9% in Monday’s stock market dealing to trade at $188.45.