Kraft Heinz Defeats Effort to Revive Insider Trading Lawsuit

Kraft Heinz Co. prevailed Thursday over an Austrian asset manager’s attempt to reopen litigation over $1.2 billion in stock sales shortly before Kraft’s share price plummet in 2018.

The Delaware Chancery Court dismissed claims from Erste Asset Management GmbH, an affiliate of Erste Group Bank AG, saying it didn’t actually have new evidence that supported reviving insider trading allegations that had been tossed in 2021.

The information supporting its theory “that one of the Kraft Heinz directors deemed to be independent had received stock options for undisclosed consulting services” would have been been uncovered in the previous litigation if Erste ...