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United settles with SEC over a money-losing route that connected an official with his vacation home

United settles with SEC over a money-losing route that connected an official with his vacation home

United Airlines’ parent company has agreed to pay a $2.4-million penalty over how it reinstated a money-losing route that gave a public official easier access to his vacation home. 

The U.S. Securities and Exchange Commission and United Continental Holdings Inc. said Friday that they've settled charges over records violations in a civil case where shareholders wound up footing the bill so the official — then the chairman of the agency that controls New York City-area airports, bridges and tunnels — could get more convenient flights.

United had reinstated an unprofitable nonstop flight between Newark, N.J., and Columbia, S.C., due...

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