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