The SEC announced an unusual and interesting administrative proceeding today against United Continental Holdings, Inc., the parent company of United Airlines. According to the SEC’s order, United reinstated a money-losing nonstop flight between Newark, N.J., and Columbia, S.C., to accommodate David Samson, the then-chairman of the Port Authority of New York and New Jersey. The SEC alleges that Samson privately advocated to United that he wanted the route reinstated because he sought a more direct route between New Jersey and his home in South Carolina.
‘Enforcement 40’ for 2020
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