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Alaska Air Board Backs CEO, Who Says He Never Gave Out Insider Info

DOW JONES NEWSWIRES Alaska Air Group Inc.'s (ALK) Chairman and Chief Executive William Ayer said he never gave insider information on Puget Energy Inc. to anyone, while the airline's board gave him its vote of confidence. Earlier Thursday, Bloomberg News reported the Securities and Exchange Commission was investigating Ayer and New York hedge fund manager Donald Smith & Co. over some well-timed bets made on Puget shares. In a statement from Alaska Air, Ayer said he "never provided any material non-public information about Puget Energy to Donald Smith & Co., or anyone else." The company's lead independent director, Marc Langland, said the board has "full confidence" in Ayer and his "high ethical standards." Ayer, who is a director of Puget Energy, was on the company's board during a $3.89 billion buyout in 2008, a deal that caused the company's share value to jump. According to the report, which cited two people familiar with the matter, the SEC is investigating whether the Donald Smith & Co. acted on inside information when it doubled its stake in Puget just before the deal was approved by Washington state officials. Alaska Air shares were flat after hours, having closed Thursday down 4.6% at $46.50. The stock has risen 35% so far this year. -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com

Stock News for Alaska Air (ALK)
DateTimeHeadline
12/07/201617:40:00Alaska Air Agrees to Settle Consumer Lawsuit Opposing Merger
12/07/201617:21:00Alaska Airlines issues statement following Virgin America lawsuit...
12/06/201617:30:00Alaska Air, Virgin America Get U.S. Nod for Merger
12/06/201613:52:00Current Report Filing (8-k)
12/06/201613:51:00Justice Department Clears Alaska Air Group's Acquisition of Virgin...
12/02/201608:00:00Alaska Air Group Reports November 2016 Operational Results
11/28/201613:20:00More U.S. Scheduled Flights to Havana on Tap
11/23/201612:00:00Alaska Airlines Foundation awards nearly $165,000 to nonprofits...
11/22/201608:00:00Cyber Monday: Alaska Airlines' biggest sale of the year kicks...
11/21/201608:00:00Alaska Airlines debuts new flights between San Diego and Newark...
11/16/201613:30:00Alaska Airlines partners with U.S. Marines to deliver Toys for...
11/16/201608:01:00Alaska Airlines announces nonstop service between San Diego and...
11/15/201608:00:00Alaska Airlines to use Advanced Technology to improve Sun Valley...
11/14/201615:07:00Forest-powered flight heads to Washington, D.C.
11/14/201606:03:10Current Report Filing (8-k)
11/10/201618:15:27Statement of Changes in Beneficial Ownership (4)
11/10/201614:30:00Alaska Airlines' New Premium Class section available for purchase...
11/10/201608:30:00Alaska Airlines to launch new flights from Bellingham, Washington...
11/10/201608:15:00Alaska Airlines inaugurates new flights between Portland, Oregon...
11/07/201616:36:42Statement of Changes in Beneficial Ownership (4)

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