PHOENIX--(BUSINESS WIRE)--Sept. 21, 2005--Swift Transportation Co.
Inc. (NASDAQ-NMS: SWFT) announced today that it has been advised by
the Securities and Exchange Commission ("SEC") that no action will be
taken against the company in connection with the SEC's formal
investigation into certain stock trades by insiders in the first half
The company also understands that the SEC investigation will be
terminated and that, other than as described below, no action will be
taken by the SEC against any insider of the company.
The company's chairman and chief executive officer, Jerry Moyes,
has agreed, without admitting or denying the SEC's claims, to settle
matters raised by the SEC by agreeing to disgorgement of trading
profits plus interest, payment of a civil penalty equal to the same
amount, and the entry of a decree permanently enjoining him from
violating securities laws.
Robert W. Cunningham, president and chief operating officer, said,
"This is great news. We are pleased this matter is behind us and,
looking forward, we will continue to concentrate on improving our
CONTACT: Swift Transportation Co. Inc., Phoenix
Glynis Bryan, 602-269-9700
SOURCE: Swift Transportation Co. Inc.