Boeing (NYSE:BA) is heading to trial. A U.S. judge has set June 23 as the date Boeing will face criminal fraud charges tied to the 737 MAX crashes that killed 346 people in 2018 and 2019. The Department of Justice claims Boeing misled regulators about a faulty flight control system. Earlier, Boeing agreed to plead guilty and pay up to $487.2 million in fines, but that deal fell apart after the judge rejected its terms. Now, with The Wall Street Journal reporting Boeing is trying to walk back the plea deal altogether, the stakes just got a whole lot higher.

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Families of the victimsand their attorneysaren't holding back. Many have called the original deal a sweetheart arrangement that let Boeing off too easy. And with the DOJ confirming in May 2024 that Boeing violated its 2021 deferred prosecution agreement, the pressure is mounting. This comes right after a high-profile safety scare in January, when a door panel flew off a 737 MAX mid-flight, reviving concerns about Boeing's quality controls. The judge had given both sides until April 11 to figure out next stepsbut just skipped ahead and dropped the trial date. The message is clear: time's up.

For investors, this isn't just legal dramait's a potential turning point. A full trial could open Boeing up to deeper fines, stricter oversight, and long-term reputational damage. If the court brands Boeing a convicted felon, it could impact everything from government contracts to regulatory trust. Boeing says it's still negotiating with the DOJ, but the tone has shifted. With criminal charges looming, quality concerns in the spotlight, and trust on the line, Boeing stock may be flying into turbulence investors can't afford to ignore.