Kraft Heinz Says Bid to Reopen Insider Trading Claims Is ‘Spin’

An Austrian asset manager’s new “spin” on a Kraft Heinz Co. director’s consulting agreements isn’t enough evidence to reopen litigation over $1.2 billion in stock sales that happened shortly before Kraft’s share price plummeted in 2018, an attorney for the company told a Delaware court on Thursday.

Erste Asset Management GmbH, an affiliate of Erste Group Bank AG, says it has new information that allegedly shows disclosures cited in a lawsuit dismissed in 2021 were false. The arguments focus on Kraft director John Cahill’s ties to 3G Capital Inc. and his compensation for the consulting work he did for Kraft ...