Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Sunday, May 6, 2007

Perspective on The Past Week's Stories

The big story (of course) is Rupert Murdoch's surprise bid for Dow Jones & Co., the parent of the Wall Street Journal.  First, there is the tremendous interest generated by the names and personalities -- the media mogul Murdoch, the prestigious WSJ, and the Bancroft family (who have generally been described as "secretive," but that seems to mean "low profile") who, as a group, control Dow Jones through its ownership of the supervoting class of stock.  Second, there are the knotty legal issues that have already  arisen -- like the Revlon duty, with others almost certainly to follow.  And, of course, there are allegations of insider trading.

Insider trading is the second-biggest story this week, as both the DOJ and the SEC brought charges against a Credit Suisse junior investment banker for trading in options of TXU before the public announcement of its LBO (and allegations of other insider trading as well) through a confederate in Pakistan.

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