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SEC sues over Heinz option trading before Buyout/Reuters

(Reuters) – U.S. securities regulators filed suit on Friday 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 Inc and Brazil’s 3G Capital.

The suit, in federal court in Manhattan, cites “highly suspicious trading” in Heinz call options just prior to the February 14 announcement of the deal. The regulator has frequently in past filed suit against unnamed individuals where it has evidence of wrongdoing, but is still trying to uncover the identities of those involved.

via SEC sues over Heinz option trading before buyout | Reuters.

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