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Administrative/Regulatory

Feb. 19, 2013

SEC freezes assets in Heinz trading

Regulators froze assets Friday linked to a Swiss trading account that cleared $1.7 million by placing an unusually large options bet on H.J. Heinz stock just hours before the company's $23 billion purchase was announced publicly.

By Henry Meier
Daily Journal Staff Writer

Regulators froze assets Friday linked to a Swiss trading account that cleared $1.7 million by placing an unusually large options bet on H.J. Heinz stock just hours before the company's $23 billion purchase was announced publicly. The emergency action by the Securities and Exchange Commission puts a damper on the Berkshire Hathaway and 3G Capital takeover bid, the announcement of which spurred Heinz's stock to rise nearly 20 percent....

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