SEC Probes Focus Media Over Acquisitions, Resales

Law360, New York (January 24, 2013, 5:45 PM EST) -- A month after announcing a $3.7 billion take-private deal, Chinese digital advertising agency Focus Media Holding Ltd. disclosed recently that it is under investigation by the U.S. Securities and Exchange Commission concerning the purchase and resale of several companies.

In an SEC filing on Jan. 18, Focus Media said that it was informed in March that the SEC had initiated a nonpublic investigation into where the purchases and resales — including the acquisition of Chinese Internet advertising firm Allyes Online Media Holdings Ltd. in 2007 and...
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