Dow Jones Insider Trading Case Settled For $24M

Law360, New York (February 5, 2008, 12:00 AM EST) -- The U.S. Securities and Exchange Commission on Tuesday announced a $24 million settlement with four Hong Kong residents, including a former Dow Jones & Co. board member, for illegal tipping and trading in Dow Jones securities.

David Li Kwok Po, who served on the Dow Jones board, allegedly tipped off his friend Michael Leung Kai Hung in the weeks before News Corporation's proposed acquisition of Dow Jones on May 1 of last year.

The SEC filed an emergency action in the U.S. District Court for the...
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