Ex-Dow Jones director settles SEC trading case

WASHINGTON, Feb 5 (Reuters) - Former Dow Jones board member David Li has agreed to pay a $8.1 million civil penalty to settle charges of insider trading ahead of news of an unsolicited buyout offer from News Corp (NWSa.N: Quote, Profile, Research) that sent Dow Jones shares soaring, the U.S. Securities and Exchange Commission said on Tuesday.

The SEC also settled insider trading charges with three other Hong Kong residents, including Michael Leung Kai Hung, a close friend of Li, who agreed to pay $16.2 million to settle the charges.

The agency said Michael Lueng engaged in insider trading with the help of his daughter, Charlotte Ka On Wong Leung, and son-in-law, Kan King Wong. (Reporting by Karey Wutkowski; Editing by Lisa Von Ahn)