Free Trial

Relatives of people killed in 2 Boeing Max crashes ask the US to fine the company $24.8 billion

Families of some of the people who died in two Boeing 737 Max crashes are asking federal officials to fine Boeing $24.8 billion and move quickly to prosecute the company on a criminal charge that was set aside three years ago.

A lawyer for the families said in a letter Wednesday to the Justice Department that a large fine is justified “because Boeing’s crime is the deadliest corporate crime in U.S. history.”

The lawyer, Paul Cassell, also wrote that the government should prosecute officials who were leading Boeing at the time of the crashes in 2018 and 2019, including then-CEO Dennis Muilenburg. In all, 346 people were killed in the crashes.

The first crash occurred when a Boeing 737 Max 8 operated by Indonesia’s Lion Air plunged into the Java Sea in October 2018 — and the second in March 2019, when an Ethiopian Airlines 737 Max 8 crashed nearly straight down into a field six minutes after takeoff from Addis Ababa.

The push by the families comes as the Justice Department considers whether to revive a dormant criminal charge of fraud against Boeing. Last month, prosecutors determined that the company violated a 2021 settlement that protected the company from being prosecuted for allegedly misleading regulators who approved the Max.

The Justice Department has until July 7 to tell a federal judge in Texas whether it will revive the case. During a hearing Tuesday, Sen. Richard Blumenthal, D-Conn., said there is “mounting evidence” that the company should be prosecuted.

Boeing did not immediately respond to a request for comment. The company previously has said it met its obligations under the 2021 settlement.

The Justice Department opened an investigation into Boeing after a door plug blew off a 737 Max during an Alaska Airlines flight in January. That incident led to increased scrutiny of the company and outgoing CEO David Calhoun, who defended Boeing’s safety record during Tuesday’s Senate hearing.

→ Biden Debate Disaster (From Banyan Hill Publishing) (Ad)

Should you invest $1,000 in Boeing right now?

Before you consider Boeing, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Boeing wasn't on the list.

While Boeing currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Best High-Yield Dividend Stocks for 2024 Cover

Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

The Best Single Stock to Own for 5 Years

The Best Single Stock to Own for 5 Years

In this video, we dive into the long-term investment game by discussing the potential of sticking with just one stock over the next five years.

Related Videos

NVIDIA Tops Microsoft and Apple for Most Valuable Company
Buy or Bail? Stock Upgrades and Downgrades
Cathie Wood’s AMD Buy: Smart Move or Risky Business

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines