Investors Dodge Insider Claims In $294M Pearson Deal

Law360, Los Angeles (June 11, 2013, 10:12 PM EDT) -- An Illinois federal judge on Monday tossed allegations that All Know Holdings committed securities fraud when it bought stock in a Chinese education company, saying there was insufficient evidence of insider information in the purchase days before Pearson PLC announced a $294 million deal to buy the company. 

U.S. District Judge Ronald A. Guzman granted summary judgment Monday to investment firm All Know Holdings, owner Sha Chen and Chen’s associate Zhi Yao, ruling the U.S. Securities and Exchange Commission failed to identify a tipper who provided...
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