The Securities and Exchange Commission has opened an investigation into Boeing over concerns it may have misled investors, reported Bloomberg.
The investigation pertains specifically to comments made to investors about safety practices following an incident in January in which a panel flew off an Alaska Airlines-run 737 Max 9 plane midair because of a poorly installed door plug.
Newsweek has approached Boeing for comment via email.
A SEC spokesperson told Newsweek: “The SEC does not comment on the existence or nonexistence of a possible investigation.”
The SEC is a federal agency that protects investors, oversees the securities industry, and maintains fair and orderly markets. It was created after the Wall Street crash of 1929 and aims to protect against market manipulation.
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The decision by the SEC to investigate Boeing is the latest in a series of blows for the American aerospace manufacturer this year.
Shortly after the Alaska Airlines incident in January, several other Max 9 planes were reported to have sub-par door plugs.
More issues with Boeing-made aircrafts were reported that month, including cracked windows, engine failures and an incident in which a Colombia-bound plane’s front nose wheel fell off.
In March, multiple incidents were reported including a fuel leak and midflight technical issues.
Two whistleblowers who raised safety concerns have died this year.
On March 9, 62-year-old John Barnett, who made allegations against the company’s safety practices was found dead in South Carolina. He was found with a “self-inflicted” gunshot wound, the BBC was told by the Charleston County Coroners office.
A second whistleblower, Joshua Dean died earlier in May.
His family said the former quality auditor at Boeing supplier Spirit AeroSystems passed away after a sudden illness.
There was no evidence to suggest that Dean’s death was suspicious.
In April, a poll conducted exclusively for Newsweek found that three in four millennials’ confidence in flying had been shaken by the allegations surrounding Boeing’s safety practices.
The Federal Aviation Administration also launched an investigation into Boeing in April after a whistleblower told authorities the company was failing to address safety concerns.
A further FAA investigation was announced on Monday into the Boeing 787 Dreamliner, following allegations of employee misconduct.
According to Boeing, some employees falsely claimed that certain tests had been completed. The FAA is also investigating whether company employees falsified aircraft records.
In an email shared with Reuters, Boeing Vice President Scott Stocker acknowledged the misconduct and wrote, “[we] are taking swift and serious corrective action with multiple” employees.
As part of the investigation, Boeing is re-inspecting all 787 airplanes still within the production system and must create a plan to address the in-service fleet.
The FAA told Newsweek that it “will take any necessary action – as always – to ensure the safety of the flying public.”
Update, 5/10/24, 9:49 a.m. ET: This article was updated with comment from the FAA.
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Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.