3G, Brazilian Billionaires Beat Kraft Heinz Insider Trading Suit

Two of Brazil’s richest men prevailed in court against claims they sold $1.2 billion worth of Kraft Heinz Co. stock based on inside information about fallout from the company’s cost-cutting measures.

A Delaware judge tossed shareholder litigation against Jorge Paulo Lemann, Alexandre Behring, and affiliates of their investment firm, 3G Capital Inc., along with other current and former Kraft board members. Lemann, with a net worth of $24 billion, is the world’s 79th-wealthiest person, according to the Bloomberg Billionaires Index.

Vice Chancellor Lori W. Will, writing July 19, dismissed claims that Lemann, Behring, and 3G reduced ...