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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.
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...somebody need to get off their beheinz and get to the bottom of this...
Would you like fries with that?
Lol @ Rascal, good one!
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