Guard For Heinz Exec Stole Info On $28B Deal, SEC Says
By Martin O'Sullivan (March 15, 2017, 3:31 PM EDT) -- The U.S. Securities and Exchange Commission on Wednesday hit a security guard formerly employed by an H.J. Heinz Co. board member with a federal suit in Manhattan, alleging that he traded on inside information regarding the company's $28 billion acquisition by Berkshire Hathaway Inc. and 3G Capital Management LLC.
The SEC said that Todd David Alpert made approximately $44,000 off shares of Heinz stock and call options that he bought in advance of a February 2013 announcement that Warren Buffett's Berkshire Hathaway and private equity firm 3G Capital Management would swallow up Heinz in a deal worth $28 billion. Alpert allegedly...
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