FBI Investigates Suspicious Trading At Heinz

Law360, New York (February 19, 2013, 7:39 PM EST) -- The FBI said Tuesday it is looking into a H.J. Heinz Co. insider trading scandal with the U.S. Securities and Exchange Commission, on the heels of a shareholder suit accusing the company’s board of self-dealing in accepting a $28 billion buyout proposal.

The FBI is consulting with the SEC, which filed a federal lawsuit Friday at several unnamed investors who allegedly made $1.7 million in irregular Heinz trading, it said. The investigation is just the latest blow lodged at Heinz over its deal with Warren Buffett's...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.