AFL-CIO President Quits Ullico Board

AFL-CIO President John J. Sweeney resigned from Ullico Inc.’s board of directors, saying the union-owned insurer has not committed itself to releasing the findings of an internal audit into stock sales by board members.

Ullico, which offers insurance and financial services to union members, is under a Labor Department investigation into whether union leaders on the company’s board of directors inappropriately inflated and then sold stock.

The Washington-based insurance company had asked Jim Thompson, the former Illinois governor, to conduct an independent inquiry into the stock sales, and the results of that probe were recently released to the board.