U.S. Judge Approves SEC Settlement On Insider Trading In Heinz Options

wochit news
April 02, 2014 AT 11:24 AM
A federal judge has approved the U.S. Securities and Exchange Commission's $4.8 million settlement with two Brazilian brothers it accused of insider trading in H.J. Heinz, after earlier having questioned why the accord did not include an admission of wrongdoing. U.S. District Judge Jed Rakoff in Manhattan said the "substantial additional information" provided by the SEC, "the unique circumstances of this case, and further guarantees of prompt payment of the proposed fines" justified approval.