THELAW.TV

SEC Sues Unidentified Traders Over Heinz Options



U.S. securities regulators on Friday filed suit against unknown traders in the options of ketchup maker H.J. Heinz Co, alleging they traded on inside information before the company announced a deal to be acquired for $23 billion by Warren Buffett’s Berkshire Hathaway and Brazil’s 3G Capital, Reuters reports.

The suit, filed in federal court in Manhattan, cites “highly suspicious trading” in Heinz call options just prior to the Feb. 14 announcement of the deal. It claims the traders are either in, or trading through accounts in, Zurich, Switzerland.

Tagged with:

Related Articles