Lewis is facing an insider trading claim in the US which related, in part, to the information known by the AACo board, but had not been made public.

The Australian Stock Exchange has now queried AACo following media reports detailing the indictment against Lewis and how it contained claims that Lewis shared the confidential information with two of his pilots.

It was among a series of allegations in which the New York Southern District Attorney Damian Williams detailed allegations of Lewis sharing confidential information with friends, staff and lovers.

“Did a member of the AAC board share information contained within the announcement prior to its release with Mr Lewis or a representative of Mr Lewis?” the ASX asked.

AACo said inquiries were made with two relevant board members.

“Based on the information available to AACo, including information provided by the two relevant board members, the answer is no. Enquiries are continuing,” AACo said.

However, the US indictment claims that information was shared with Lewis, who owns 51 per cent of AACo.

It said a board meeting on or about February 10, 2019, discussed the impacts of the floods and how they were material to AACo.

“That same day, a board member employed by Tavistock (Lewis’s company) informed Lewis … that the losses to the company were material, that AAC did not ave insurance coverage relating to the cattle it lost in the flooding and that the Australian Government was not expected to cover any portion of the losses.”

AACo said it was complying with ASX listing rules.

The indictment claimed Lewis’s associates were able to reap millions from the information he gave them and none of it was necessary because Lewis was already a wealthy man.

“But, as we allege, he used inside information as a way to compensate his employees or shower gifts on his friends and lovers,” Williams told US media.

Lewis has been charged with 16 counts of securities fraud and three counts of conspiracy.