SEC files suit against unknown traders over Heinz options

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

The suit, filed in federal court in Manhattan, cites "highly suspicious trading" in Heinz call options just prior to the February 14 announcement of the deal. It claims the traders are either in, or trading through accounts in, Zurich, Switzerland. (Reporting by Jonathan Stempel; Writing by Ben Berkowitz; Editing by Leslie Adler)


Updated Date: Feb 16, 2013 03:15 AM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent

Also See