Mystery Heinz Traders Revealed In $5M SEC Settlement
By Max Stendahl
Law360, New York (October 10, 2013, 1:51 PM ET) -- Two Brazilian brothers have agreed to pay $4.8 million to settle a U.S. Securities and Exchange Commission suit after being identified as the source of suspicious trading in H.J. Heinz Co. shares before the company’s $28 billion sale, the agency said Thursday.
The SEC filed an amended complaint in New York federal court against Rodrigo Terpins and Michel Terpins, alleging they made $1.8 million by trading Heinz securities just before Warren Buffett's Berkshire Hathaway Inc. and private equity firm 3G Capital Management LLC bought the food...