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H.J. Heinz & Co. (NYSE:HNZ): Closing price $72.28
Securities regulators in the United States brought a suit on Friday against unnamed traders in the options of Heinz, claiming they traded on inside information before the announcment of a deal for the food giant to be purchased for $23 billion by Berkshire Hathaway and Brazil’s 3G Capital. The suit was filed in federal court in Manhattan, citing “highly suspicious trading” in Heinz call options just before the February 14th announcement of the acquisition. What is more, the suit said that the trading caused the price of the particular call option they bought to jump by 1,700 percent and brought unrealized profits in excess of $1.7 million. The regulator claims the traders are either in, or trading through accounts in, Zurich. On Monday, authorities in Switzerland said that they have not yet been asked to assist a U.S. inquiry, even though a Zurich account is at the center of the matter.
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