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Friday, February 22, 2013

Swiss authorities to aid Heinz insider-dealing probe, (NYSE: BRK-A), (NYSE: BRK-B)

Swiss authorities said they will aid a U.S. investigation into alleged insider trading in connection with H.J. Heinz Co the day before it was announced that the company would be sold. Options markets participants noted extremely unusual activity almost immediately after Warren Buffett's Berkshire Hathaway and Brazil's 3G Capital said last Thursday that they would purchase Heinz for $23 billion in cash.Last week the Securities and Exchange Commission (SEC) filed a suit against unnamed traders who it said used a Goldman Sachs account in Switzerland to trade on purported inside knowledge of the transaction."We're in touch with the SEC and will, as in all cases of this nature, cooperate to the extent of our legal possibilities," Swiss financial regulator FINMA said in a statement on Friday.The traded call options - agreements that gives the option to buy the shares at a pre-determined price at a specified date - are also being investigated by the Federal Bureau of Investigation.

Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-A traded higher by 0.66% or $1000.0/share to $151500.00. In the past year, the shares have traded as low as $117301.00 and as high as $153160.00. On average, 74100 shares of BRK-A exchange hands on a given day and today's volume is recorded at 181.

Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-B traded higher by 0.46% or $0.465/share to $100.64. In the past year, the shares have traded as low as $78.18 and as high as $101.49. On average, 4526400 shares of BRK-B exchange hands on a given day and today's volume is recorded at 1175123.



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