SEC Declines Comment on Probe: The Securities...
From Times Staff and Wire Reports
SEC Declines Comment on Probe: The Securities and Exchange Commission would not say if it is investigating suspected insider trading before the announcement of a $3.3-billion buyout of Fireman’s Fund Insurance Co. Unusually heavy trading in stocks and options of the Novato firm’s parent, Fund American Cos. of Greenwich, Conn., took place before announcement of the proposed takeover by Allianz AG Holding of West Germany. Fund American stock rose $11.625 Thursday, or 30%, to close at $49.75.
