Pearson Target's Boss Tipped Cohorts On $294M Deal: SEC

Law360, New York (December 6, 2011, 9:14 PM EST) -- The chairman of a Chinese company purchased by British education and publishing giant Pearson PLC for $294 million likely tipped her associates ahead of the merger, the U.S. Securities and Exchange Commission said in a securities fraud suit filed Monday in Illinois federal court.

The SEC says Sha Chen, Song Li, Lili Wang, and Zhi Yao, who are all Chinese citizens, bought unusual amounts of stock in Global Education and Technology group just days before Pearson announced Nov. 21 that it would buy the educational services...
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