Intel stock spikes after report of possible US government stake
Investing.com -- Boeing (NYSE:BA) is looking to withdraw its earlier guilty plea in a criminal case that accused the company of deceiving regulators prior to two fatal crashes involving its 737 MAX jets. This information comes the Wall Street Journal, citing from individuals who are privy to the matter.
The aerospace giant is in pursuit of more lenient treatment from the Justice Department. The department, under the Trump administration, is currently reviewing several pending criminal cases that have not yet proceeded to trial or received court approval. In July of last year, Boeing agreed to plead guilty to defrauding the Federal Aviation Administration. However, a federal judge in Texas dismissed the proposed agreement in December.
At present, Boeing stands to potentially benefit from the Trump Justice Department, which is considering modifying parts of the agreement.
Negotiations are ongoing between the two sides on how to propose changes to the deal, which are expected to be presented to U.S. District Judge Reed O’Connor, who is overseeing the case, by April 11. One possible change being discussed is whether Boeing can avoid hiring an external monitor to ensure its compliance with the law.
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