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Federal regulators will see their insider trading suit against a Chinese investor who allegedly helped reap more than $29 million in profits from the Comcast-DreamWorks Animation deal go forward, after U.S. District Judge J. Paul Oetken denied the defendant’s motion to dismiss Monday.
Shaohua Yin, who goes by Michael, is a former partner at Summitview Capital Management in Hong Kong. The U.S. Securities and Exchange Commission brought insider trading charges against Yin and others in February 2017. The complaint alleged that brokerage accounts opened in the names of others but controlled by Yin amassed a large position in DreamWorks ahead of the April 2016 announcement of the deal.
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