American Stores ‘Cooperating’: American Stores, responding to...

American Stores ‘Cooperating’: American Stores, responding to reports that a former employee of its Alpha Beta chain had been charged with passing insider information to his father, said it has “fully cooperated” with an investigation by the Securities and Exchange Commission and “has no reason to believe that the SEC is investigating any other employees.” The company, based in Salt Lake City, said David Hellberg, a financial specialist, resigned May 31, 1988. The SEC charged that Hellberg and his father, Gerald Hellberg, engaged in an insider trading scheme last year that produced $328,844 in stock profits after the younger man tipped his father to American Stores’ plan to buy Lucky Stores.