NIO - Boeing Pleads Guilty: Why BA Stock Is Up on Criminal Case News
2024-07-08 10:08:57 ET
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Boeing (NYSE: BA ) stock is in the news Monday after the airplane manufacturing company agreed to plead guilty in a lawsuit with the Department of Justice (DOJ).
Boeing has reached an agreement with the DOJ to plead guilty to a criminal fraud charge. This is tied to two crashes of its Boeing 737 Max jets that resulted in the death of 346 people.
According to the DOJ charges, Boeing broke an agreement with the government that protected it from litigation for three years. The DOJ is seeking a $243.6 million fine from the company.
Other changes required also include Boeing investing $455 million into its compliance and safety programs. Additionally, its board of directors has to meet with the families of the victims.
Here’s the DOJ’s statement about the plea deal with Boeing to CNN :
“This resolution protects the American public. Boeing will be required to make historic investments to strengthen and integrate its compliance and safety programs. This criminal conviction demonstrates the department’s commitment to holding Boeing accountable for its misconduct.”
BA Stock Movement Today
News that Boeing has reached a plea agreement has shares of BA stock on the rise today. That has BA shares up 2.8% as of Monday morning. This comes with some 1.4 million shares traded, as compared to a daily average of about 6.7 million shares.
Investors will want to keep reading for more of the most recent stock market stories on Monday!
We have all of the hottest stock market news that traders need to know about today! Among that is what’s going on with shares of Nio (NYSE: NIO ), Paramount Global (NASDAQ: PARA ) and Qualigen Therapeutics (NASDAQ: QLGN ) stock this morning. All of this news is ready at the links below!
More Monday Stock Market News
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- PARA Stock Alert: Paramount FINALLY Reaches Merger Deal With Skydance
- Why Is Qualigen Therapeutics (QLGN) Stock Down 12% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines .
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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