Hawaiian Ex-CEO, Investor Must Repay $2.5M: SEC

Law360, New York (May 7, 2009, 12:00 AM EDT) -- Following a settlement of claims against the former CEO of Hawaiian Airlines Inc. and the carrier’s majority shareholder, AIP LLC, federal regulators have approved a distribution plan requiring the disgorgement of roughly $2.5 million netted in an allegedly crooked 2002 stock repurchase.

The plan, which the U.S. Securities and Exchange Commission approved May 6, requires former Hawaiian CEO John W. Adams and AIP, a partnership he managed, to relinquish $2.5 million to be distributed to individuals harmed by the alleged scheme to unload AIP’s stock in...
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