A Brazilian citizen and his company Nov. 30 agreed to pay $5.1 million to settle a Securities and Exchange Commission suit alleging that they engaged in insider trading ahead of the 2010 private equity acquisition of Burger King (SEC v. Cornelsen, S.D.N.Y., 12-_____).
In a complaint filed in the U.S. District Court for the Southern District of New York, the SEC said that Igor Cornelsen used his firm, Bainbridge Group, to trade in Burger King options after he was tipped to the upcoming acquisition of the fast food giant by New York private equity firm 3G Capital.
According ...
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