Youku Tudou Faces Insider Trading Probe

The Beijing News, 8/27/12

US-based independent securities regulator Financial Industry Regulatory Authority (FINRA) recently sent a letter to the management of Chinese online video site operator Youku Tudou (NYSE: YOKU), listing 240 people and institutions, including UBS and HSBC Private Banking, requiring that Youku Tudou explain whether or not through relations, contact, and frequent exchange, business secrets regarding the Youku Tudou merger were leaked to any of the people on the list.

Before March 12, 2012 when Youku and Tudou announced their merger, Tudou's stock saw a significant increase in trading volume and an unusual fluctuation in stock price. FINRA authorities are currently conducting an insider trading investigation.

Keywords: scandal Internet online video Youku Tudou YOKU M&A

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