TWA Penalized for USAir Stock Buy: Trans...
TWA Penalized for USAir Stock Buy: Trans World Airlines’ parent corporation agreed to pay a $1.125-million civil penalty to settle a federal claim that it broke the law when it quietly bought a large amount of stock in USAir. An antitrust suit brought by the Justice Department contended that Aero Limited Partnership of Mt. Kisco, N.Y., failed to notify federal antitrust officials and observe a required waiting period before completing its purchase of more than $15 million in USAir stock in 1986 and 1987.
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