Judge Freezes Assets Related To Pepsi-WBD Deal

Law360, New York (December 16, 2010, 8:12 PM EST) -- A federal judge has issued a preliminary injunction to freeze assets related to alleged insider trading that occurred prior to the Dec. 2 announcement that PepsiCo Inc. would acquire a 66 percent stake in Russian dairy and fruit juice company Wimm-Bill-Dann Foods OJSC.

The preliminary injunction, issued by Judge John F. Keenan of the U.S. District Court for the Southern District of New York on Wednesday, was particularly aimed at 400,000 Wimm-Bill-Dann American Depositary Receipts racked up in the three days before the acquisition's announcement, along...
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