US financial regulators have scored a victory against alleged insider traders accused of betting on the outcome of the $28bn sale of food company Heinz while at a Walt Disney theme park.
Brazilian Rodrigo Terpins and his brother Michel agreed on Thursday to pay $5m to the Securities and Exchange Commission to settle charges that they were behind suspicious trading the day before a buyout of Heinz was publicly announced.
‘Enforcement 40’ for 2020
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