SEC Targets Inside Traders Over Pepsi-WBD Deal

Law360, New York (December 9, 2010, 5:12 PM EST) -- The U.S. Securities and Exchange Commission has accused unknown purchasers of Wimm-Bill-Dann Foods OJSC securities of insider trading prior to the Dec. 2 announcement that PepsiCo Inc. would acquire a 66 percent stake in the Russian dairy and fruit juice company for $3.8 billion.

The SEC filed suit against the purchasers Wednesday in the U.S. District Court for the Southern District of New York and Thursday secured a temporary restraining order from Judge John F. Keenan barring the transfer of the securities or proceeds from their...
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