Couple’s Dow Jones Trades Targeted
Posted May 9, 2007 11:40 AM CDT
By Debra Cassens Weiss
The Securities and Exchange Commission has filed a civil suit accusing a Hong Kong couple of trading on inside information when they purchased $15 million in Dow Jones & Co. stock two weeks before a buyout offer.
The suit names as defendants Kan King Wong and his wife, Charlotte Ka On Wong Leung, reports the Wall Street Journal, which is owned by Dow Jones. The SEC seeks disgorgement of the couple’s $8.2 million profit.
The complaint doesn’t say how the couple acquired inside information, but the newspaper reports investigators may look at links between a banker and the father of Charlotte Ka On Wong Leung.