U.S. securities regulators on Friday filed suit against unknown traders in the options of ketchup maker H.J. Heinz Co, alleging they traded on inside information before the company announced a deal to be acquired for $23 billion by Warren Buffett's Berkshire Hathaway and Brazil's 3G Capital.The suit, filed in federal court in Manhattan, cites "highly suspicious trading" in Heinz call options just prior to the Feb. 14 announcement of the deal.That trading, the suit said, caused the price of the particular call option they bought to soar 1,700 percent and generated unrealized profits of more than $1.7 million.The regulator claims the traders are either in, or trading through accounts in, Zurich, Switzerland. The account had no history of trading in Heinz over the last six or so months, the SEC said.
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 0.6% or $901.0/share to $150141.00. In the past year, the shares have traded as low as $117301.00 and as high as $149804.00. On average, 73114 shares of BRK-A exchange hands on a given day and today's volume is recorded at 546.
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 0.56% or $0.56/share to $99.77. In the past year, the shares have traded as low as $78.18 and as high as $99.31. On average, 4470920 shares of BRK-B exchange hands on a given day and today's volume is recorded at 5200585.
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