SEC Probes Suspicious Trading

by Marcy Gordon
The Associated Press
October 2, 2001


The government is investigating trading in shares of 38 companies, including major airlines, cruise lines, General Motors and Raytheon, to determine if people used advance knowledge of the terror attacks to profit.

The 38 companies also include the parents of major airlines American, Continental, Delta, Northwest, Southwest, United and USAirways as well as cruise lines Carnival and Royal Caribbean, aircraft maker Boeing and defense contractor Lockheed Martin.

In the days before the terrorist assaults, unusually high numbers of put options were purchased for the stocks of AMR Corp. and UAL Corp., the parents of American and United - each of which had two planes hijacked.

 

Copyright 2001

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