Ex-Dow Jones Director, SEC Settle For $8M: Report

Law360, New York (January 28, 2008, 12:00 AM EST) -- A former Dow Jones & Co. director who faced possible accusations by the U.S. Securities and Exchange Commission of insider trading in News Corp.'s $5 billion bid for Dow Jones has tentatively settled with the U.S. Securities and Exchange Commission for over $8 million, the Financial Times reported Monday.

David Li, chairman and CEO of the Bank of East Asia Ltd., would neither admit nor deny wrongdoing under the agreement, which is not final and may yet change, according to the report.

An SEC spokesperson declined...
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