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Kraft Board, 3G Capital Beat $1.2 Billion Insider Trading Case

Dec. 16, 2021, 6:06 PM

Current and former Kraft Heinz Co. board members and affiliates of 3G Capital, its second-largest investor, dodged shareholder litigation in Delaware over $1.2 billion in stock sales the asset manager made shortly before Kraft’s share price plummeted in 2018.

Vice Chancellor Lori W. Will tossed the case late Wednesday from Delaware’s Chancery Court, saying the pension funds leading the derivative lawsuit failed to demand an internal investigation before filing it or show that ties between 3G and the board would have made the request futile.

Although some of the eight directors not appointed by 3G have some remote links to ...