US prosecutors hit Boeing with a $2.5 billion fine to settle charges the company defrauded regulators over the 737 MAX, the Justice Department announced Thursday..

Boeing reached a deferred prosecution agreement related to the company's pronouncements to regulators about the MAX, which only recently was cleared to resume service following a 20-month grounding after two deadly crashes.

Prosecutors described Boeing's failings in withering terms, accusing the company of putting "profit over candor" and of engaging in a "half-truths" and a "cover up."

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