Heinz deal sparks SEC insider trading probe
February 15th, 2013
06:06 PM ET

Heinz deal sparks SEC insider trading probe

Someone profited handsomely by buying Heinz options the day before a group announced plans to buy the company, and the Securities and Exchange Commission is suspicious.

The SEC said Friday that it had obtained a court order to freeze assets in a Swiss trading account, questioning profits made ahead of the announcement of H.J. Heinz Co.'s $28 billion acquisition by a group including Warren Buffett's Berkshire Hathaway.

The SEC said "unknown" traders using the account had purchased options the day before the announcement and reaped $1.7 million when the Heinz deal was revealed on Thursday.

FULL STORY
Post by:
Filed under: Business • Economy
soundoff (4 Responses)
  1. Rascal Rabble

    ...somebody need to get off their beheinz and get to the bottom of this...

    February 15, 2013 at 6:39 pm | Report abuse | Reply
  2. Heymann

    Would you like fries with that?

    February 15, 2013 at 8:19 pm | Report abuse | Reply
  3. chrissy

    Lol @ Rascal, good one!

    February 15, 2013 at 8:23 pm | Report abuse | Reply
  4. mira esto e veras

    Pretty nice post. I just stumbled upon your weblog and wanted to say that I have really enjoyed surfing around your blog posts. After all I'll be subscribing to your rss feed and I'm hoping you write once more soon!

    February 25, 2013 at 3:08 pm | Report abuse | Reply

Post a comment


 

CNN welcomes a lively and courteous discussion as long as you follow the Rules of Conduct set forth in our Terms of Service. Comments are not pre-screened before they post. You agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Service.