Dow Jones gets subpoena
Dow Jones received a subpoena from the New York state attorney general's office.
By Agencies |
NEW YORK: Dow Jones and Co, owner of the Wall Street Journal and Barron's, received a subpoena from the New York state attorney general's office and a request for information from the US Securities and Exchange Commission, a Dow Jones spokesman said.
The Wall Street Journal on Monday reported investigations were under way into trading in Dow Jones stock and options prior to the public announcement on May 1 of News Corp's five billion dollar takeover bid.
On May 2, the Dow Jones board declined to act on the unsolicited bid, which the Journal said was received two weeks earlier by directors. Regulators are likely examining trading in shares and options of Dow Jones in April, including more than 10,000 call options that changed hands, the Journal said.
Options give investors the right, without the obligation, to buy shares of a company at a specified price by a certain date.
An unidentified Dow Jones spokesman said the company is cooperating with the investigations, while Rupert Murdoch's News Corp confirmed it also received a subpoena from the attorney general and an SEC inquiry and is cooperating, the Journal said.
Dow Jones is controlled by members of the Bancroft family, which holds about 64 per cent of shareholder votes through its ownership of Class A and Class B stock.
The Wall Street Journal on Monday reported investigations were under way into trading in Dow Jones stock and options prior to the public announcement on May 1 of News Corp's five billion dollar takeover bid.
On May 2, the Dow Jones board declined to act on the unsolicited bid, which the Journal said was received two weeks earlier by directors. Regulators are likely examining trading in shares and options of Dow Jones in April, including more than 10,000 call options that changed hands, the Journal said.
Options give investors the right, without the obligation, to buy shares of a company at a specified price by a certain date.
An unidentified Dow Jones spokesman said the company is cooperating with the investigations, while Rupert Murdoch's News Corp confirmed it also received a subpoena from the attorney general and an SEC inquiry and is cooperating, the Journal said.
Dow Jones is controlled by members of the Bancroft family, which holds about 64 per cent of shareholder votes through its ownership of Class A and Class B stock.
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