SEC sues over suspicious Heinz options trading
February 16, 2013 8:42 AM EST
Securities regulators on Friday sued unknown traders over suspected insider trading in H.J. Heinz Co call options ahead of the announced buyout of the company.
The lawsuit said the options generated more than $1.7 million in unrealized profit before the ketchup maker on Thursday agreed to a $23 billion buyout by Warren Buffett's Berkshire Hathaway and private equity firm 3G Capital Partners.
The U.S. Securities and Exchange Commission also said it had won an emergency court order to freeze assets in a Zurich, Switzerland-based trading account used to reap the alleged trading profits.
The lawsuit was filed in U.S. District Court in Manhattan.
(Reporting by Bernard Vaughan; Editing by Dale Hudson)
Most Popular Slideshows
- From Fat To Fit: Celebrities Who Were Overweight Before They Became The Beauties That They Are
- Kendall Jenner Could Be Next Victoria's Secret Angel [PHOTOS]
- Champions League Results: Barcelona Barely Escapes With A Win, Chelsea Fails To Hold On To The Lead [PHOTOS]
- Taylor Swift Named People's Best Dressed Stars Of 2014 [PHOTOS]
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- iOS 8 Release Date Of Sept 17 Has Arrived: Update Begins At 10AM Pacific Time, Upgrade Your iDevices With iOS 7.1.2 First To Install iOS 8
- Google Nexus 6 Release Date on Q4 2014 Confirmed by T-Mobile Featuring Wi-Fi Calling
- Why Samsung Galaxy S5 Is Not The Best Smartphone To Purchase Now? If You Still Want To, Wait For A Month To Get It Cheap
- Apple iPad Air 2, iPad Mini 3 October Release Date Roundup: Freshly Leaked Protective Case Debuts Unique Vent Alongside Camera
- Canadian IS Jihadist Wants to ‘Play Soccer’ with Heads of US Decapitated Soldiers
- Australia Actively Rallying Support For International Coalition Against ISIS
- Warning to U.S. – ISIS Has Shot Down a Syrian Regime Fighter Jet