AON Shares Plunge on Flat Earnings, SEC Probe

Aon Corp.'s share price plunged 30% yesterday as the company reported its quarterly financial results, scrapped a spinoff of its underwriting unit, and disclosed that it may be required by the U.S. Securities and Exchange Commission to restate some prior-year earnings figures. Patrick G. Ryan, chairman and CEO of Aon Corporation, said in the company's press release announcing the results, "Operating segment revenue growth of 15% in the quarter showed solid overall client demand for Aon's products and services. Nevertheless, second quarter bottom line results were the worst in Aon's history ...