Monday, February 18, 2008

SEC Charges, Settles, $24 Million Insider Trading Case

The SEC annouunced the filling and settlement of insider trading charges against four Hong Kong residents for illegal tipping and trading in the securities of Dow Jones & Company, Inc. ("Dow Jones") in the weeks before the public disclosure on May 1, 2007 of an unsolicited $60 per share acquisition offer for Dow Jones (the "Offer") by News Corporation. The alleged tip originated with David Li Kwok Po ("David Li"), who served on the Dow Jones board of directors. David Li is the Chairman and Chief Executive Officer of the Bank of East Asia and a member of Hong Kong's Legislative Counsel and Executive Committee.
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