The SEC files suit against Swiss traders in Heinz (HNZ) call options and obtains an emergency...

The SEC files suit against Swiss traders in Heinz (HNZ) call options and obtains an emergency order to freeze the assets in an account linked to the trading. The lawsuits cite "highly suspicious trading" just prior to the Feb. 14 news of the acquisition by Berkshire Hathaway (BRK.A, BRK.B) and 3G Capital. (earlier)

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Comments (8)
  • Ray Lopez
    , contributor
    Comments (1832) | Send Message
    About time. SEC always behind the curve in these matters.
    15 Feb 2013, 07:29 PM Reply Like
  • Abraxas
    , contributor
    Comments (297) | Send Message
    The SEC is still behind the curve. the only reason they actually found out about the trades is that Zero Hedge published a post detailing them and the irregular pattern.
    15 Feb 2013, 08:12 PM Reply Like
  • TruffelPig
    , contributor
    Comments (4208) | Send Message
    Good for them!
    15 Feb 2013, 08:31 PM Reply Like
  • Trader's Profit Compass
    , contributor
    Comments (2072) | Send Message
    THe SEC has learned that the offending party is an 89 year old woman that suffers from severe alzheimers and lives in an assisted living community in so florida. She made the transactions using an app on a disposable cell fone, then wire transferred the funds to a numbered accounts w/ Credit Suisse and UBS via a shell corporation in the Cayman Islands in which she is listed as the CEO in the registration documents. Once convicted, the SEC plans to levy a 50,000 dollar fine and 90 days community service at the adjoining hospice facility.
    15 Feb 2013, 08:58 PM Reply Like
  • Ray Lopez
    , contributor
    Comments (1832) | Send Message
    LOL, she is a shell, literally and figuratively, for other people's money.
    16 Feb 2013, 12:05 PM Reply Like
  • Michael Parmar
    , contributor
    Comments (247) | Send Message
    SEC is taking action!


    there may be hope for market regulation yet


    HAHA especially since it is a "GS account " ......... wonders will never cease,


    SEC and Not Goldman Sachs Doing God's work??
    16 Feb 2013, 05:16 PM Reply Like
  • DougRk
    , contributor
    Comments (1925) | Send Message
    The common link between this insider action and an earlier one involving Burger King, which was prosecuted by the SEC, is the Brazilian-owned firm 3G Capital.
    16 Feb 2013, 09:24 PM Reply Like
  • wefish
    , contributor
    Comments (17) | Send Message
    TFCAB, How right you are, My thoughts exactly.
    17 Feb 2013, 04:37 PM Reply Like
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