SEC Accuses Hong Kong Couple Of Insider Trading Before Rupe's Dow Bid
Remember last week at this time, when Dow Jones stock jumped on news that Rupert Murdoch had made a $5 billion bid to buy the company? The Securities & Exchange Commission certainly does. Today in a lawsuit filed in New York, the SEC accused a pair of Hong Kong residents of using inside information to buy $15 million of Dow Jones stock ahead the News Corp. announcement.
In a 40-page filing, the SEC requested that the assets of Kan King Wong and Charlotte Ka On Wang Leong be frozen.
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