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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.