Ex-AIG Legal Worker Settles SEC's Insider Trading Claim

Law360 (February 20, 2020, 11:19 PM EST) -- A former AIG Inc. legal department employee and his father have settled U.S. Securities and Exchange Commission claims that they bought stock in Validus Holdings Ltd. based on the son's inside knowledge that AIG planned to buy the company, the agency said.

Jon L. Aronson allegedly learned of AIG's looming buy of the Bermuda-headquartered insurer while working as an administrative assistant to the chief of staff to the AIG board of directors and used that knowledge to buy 550 Validus shares just before the companies announced the $5.56 billion deal in January 2018, the SEC said in its Feb. 14 complaint filed...

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