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3G, Behring, Lemann Sued Again Over $1.2 Billion in Kraft Trades

May 12, 2022, 5:52 PM

Kraft Heinz Co. senior leaders and affiliates of 3G Capital Inc., including Brazil’s richest man, are facing more investor litigation in Delaware over claims the private equity giant sold $1.2 billion in stock shortly before Kraft’s share price plummeted in 2018.

The 99-page lawsuit, made public late Wednesday, targets current and former members of the Kraft board—including 3G’s co-founders, Brazilian billionaires Alexandre Behring and Jorge Paulo Lemann—along with the investment firm and about a half-dozen corporate affiliates. Lemann is reportedly Brazil’s wealthiest person.

The derivative suit accuses the board of looking the other way while 3G sold 20.3 million shares ...

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