It seems the massive gains and obvious pre-deal trades that we highlighted earlier [3] nudged the SEC off their kiddy-pr0n sites and into action. Via Bloomberg:
- *SEC SAID TO REVIEW POSSIBLE INSIDER TRADING IN HJ HEINZ :HNZ US
But, of course, this is the SEC...
- *SEC HEINZ REVIEW MAY NOT LEAD TO INVESTIGATION, THE PERSON SAID
We await their justification that because no downgrade of the US was conducted by the perpetrator of this glaring insider trade, no charges will be forthcoming.