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AT&T Inc. agreed to pay a $6.25 million penalty to settle an unusual lawsuit by federal regulators claiming its executives selectively disclosed nonpublic information about the company’s finances to Wall Street analysts.
The telecommunications giant won’t admit or deny the U.S. Securities and Exchange Commission allegations under a settlement proposal filed Friday by government lawyers with a federal judge in Manhattan.
Three AT&T executives who were also named in the agency’s March 2021 suit each agreed to pay a $25,000 penalty, also without admitting wrongdoing.
The SEC alleged that the three executives made private calls to analysts at about 20 companies, disclosing information that included its internal sales data and the impact on revenue.
“We are committed to following all applicable laws and pleased to have resolution with the SEC,” Jim Greer, a company spokesman, said in an email.
Delta, pilots reach 4-year deal
Delta Air Lines pilots would receive at least 31% in pay hikes over the four-year term of an agreement in principle reached with the carrier.
The tentative accord — with $7.8 billion in total increased value — would also provide a one-time payment to pilots, the Air Line Pilots Association told members in an email Friday. The agreement, reached after more than three years of talks, must be approved by union leadership before going to pilots for a vote.
If approved, terms of the agreement are expected to set minimum standards for contracts being negotiated with pilots at American Airlines Group, United Airlines Holdings and Southwest Airlines.
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