Sunday, February 24, 2013

Heinz Traders Stay in Hiding

According to the WSJ: The investors who turned a "highly suspicious" $90,000 investment in H.J. Heinz & Co. options into a $1.7 million profit after last week's announcement of the ketchup-maker's sale failed to show up at a key court hearing on Friday, clearing the way for a judge's order freezing the investors' assets to stand.

The four-minute hearing was the latest development in the Securities and Exchange Commission's pursuit of the traders, who conducted the big options bet through a Goldman Sachs Group Inc. GS +2.13% account in Zurich. A week after the SEC first took legal action against the traders, their identity remains unknown to the regulator. The defendants' table in the federal courtroom in Manhattan was vacant at Friday's hearing….

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