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July 9, 2008 10:55:48 AM CDT



Dow Jones Director Faces Insider Trading Charges

Posted Jul 18, 07 6:32 PM CDT in Business US    Editor's Choice

(Newser) – The Securities and Exchange Commission plans to file civil charges against Dow Jones board director David Li,  in an insider trading case linked to News Corp.'s bid for the company. As a board member, Li has access to inside information, the Wall Street Journal reports. He also has ties to a Hong Kong couple already charged with insider trading.

The couple earned millions by purchasing 415,000 shares of Dow Jones stock just two weeks before Rupert Murdoch's first offer became public. Those assets have now been frozen. The SEC has been probing unusual trading in Dow Jones stock and options in the run-up to Murdoch's $5 billion buyout offer. 

Source Wall Street Journal

Editor Recommended

David Li   (Legistaltive Council, Hong Kong)
A new high for the Dow Jones is seen on a billboard in Times Square in New York, Tuesday, July 17, 2007. The Dow Jones industrial average swept past 14,000 for the first time Tuesday after a relatively...   (Associated Press)
Co., publisher of The Wall Street Journal, the Journal reported on its Web site Monday July 16, 2007. (AP Photo/Jason DeCrow)   (Associated Press)
Co. by reportedly sealing a tentative agreement to buy the company for his original offering price of $5 billion. (AP Photo/Douglas C. Pizac, file)   (Associated Press)
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