3G, Behring, Lemann Targeted in Bid to Revisit $1.2 Billion Case

An Austrian asset manager sued a pair of Brazilian billionaires in Delaware, seeking to reopen litigation over claims they made insider sales worth $1.2 billion shortly before Kraft Heinz Co. shares plunged in 2018.

Details of the lawsuit docketed Wednesday are under seal, but a public court filing indicates the case involves allegations that 3G Capital Partners Ltd., co-founders Alexandre Behring and Jorge Paulo Lemann, and certain Kraft board members used fraudulent regulatory filings to trick a judge into throwing out the earlier case. “Plaintiff also reasserts the claims dismissed in the prior action,” according to the public filing. ...