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Stock Market & Financial Investment News

News Breaks
February 15, 2013
16:38 EDTHNZSEC freezes assets in Swiss account related to trading ahead of Heinz deal
The Securities and Exchange Commission obtained an emergency court order to freeze assets in a Zurich, Switzerland-based trading account that was used to reap more than $1.7M from trading in advance of yesterdayís public announcement about the acquisition of H.J. Heinz Company (HNZ). In a complaint filed in federal court in Manhattan, the SEC alleges that prior to any public awareness that Berkshire Hathaway and 3G Capital had agreed to acquire H.J. Heinz in a deal valued at $28B, unknown traders took risky bets that Heinzís stock price would increase. The traders purchased call options the very day before the public announcement. After the announcement, Heinzís stock rose nearly 20% and trading volume increased more than 1,700% from the prior day, placing these traders in a position to profit substantially. The SEC alleges that the unknown traders were in possession of material nonpublic information about the impending acquisition when they purchased out-of-the-money Heinz call options the day before the announcement. Reference Link
News For HNZ From The Last 14 Days
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June 22, 2015
08:02 EDTHNZFirms fight News Corp in contingent-fee suit, Bloomberg reports
Companies such as HJ Heinz (HNZ) and Henkel (HENKY) subsidiary Dial are among the plaintiffs in a class action lawsuit against News Corp (NWS) that claims its advertising unit has monopolized the market for in-store design services, Bloomberg reports. The companies sued in 2013 originally, and the case was granted class action status last Thursday, the report says. Reference Link

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