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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; [email protected]

Stock News for Alaska Air (ALK)
DateTimeHeadline
01/20/201714:36:00Alaska Air Group to Announce Financial Results
01/18/201706:02:20Amended Current Report Filing (8-k/a)
01/18/201706:02:19Current Report Filing (8-k)
01/11/201708:00:00Alaska Airlines announces new seasonal flights from Portland...
01/10/201715:15:26Initial Statement of Beneficial Ownership (3)
01/10/201713:08:21Statement of Ownership (sc 13g)
01/10/201708:00:00Alaska Air Group Reports December 2016 and Full-Year Operational...
01/06/201718:43:13Statement of Changes in Beneficial Ownership (4)
01/06/201708:00:00Alaska Airlines kicks off new year with new in-flight amenities...
01/05/201714:58:00Alaska Airlines launches first West Coast commercial air service...
12/21/201608:00:00Alaska Airlines and Virgin America grow San Francisco hub with...
12/19/201609:15:14Current Report Filing (8-k)
12/19/201608:00:00Alaska Airlines announces new enhancements to Mileage Plan
12/14/201609:10:42Current Report Filing (8-k)
12/14/201608:30:00Alaska Air Group closes acquisition of Virgin America, becomes...
12/14/201608:30:00Alaska Air Group closes acquisition of Virgin America, becomes...
12/13/201606:02:21Current Report Filing (8-k)
12/12/201617:53:00Alaska Airlines and its aircraft technicians reach tentative...
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...

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