Kraft Heinz and 3G Capital Face Lawsuit Over Alleged Insider Trading
A Connecticut-based trading firm has accused both Kraft Heinz and 3G Capital of insider trading. According to court documents, Timber Hill claims that outgoing CEO Bernardo Hees and 3G Capital worked together to sell shares before reporting last year’s disastrous earnings report. Kraft Heinz is currently facing an SEC investigation over accounting practices. The food giant is also facing major losses from its iconic brands. Six current and former Kraft Heinz executives are also named in the lawsuit.
Since 3G Capital is a company known for ruthless cost-cutting strategies and its history of bringing itself to the attention of authorities, there may be just cause to dig a little deeper into the accusations in the lawsuit.