Financial columnist Dan Dorfman reported yesterday that the $3.4 billion purchase of Burger King is being investigated by the Securities and Exchange Commission and another Wall Street watchdog for possible insider trading.
In a Huffington Post column, the longtime deal-watcher reported that the SEC and the Financial Industry Regulatory Authority have asked brokerages for information about clients’ purchase of BK Holdings stock prior to the announcement of 3G's intention to buy the fast-food brand.
Dorfman did not suggest that 3G, a Brazilian private equity firm, is suspected of any wrong-doing.
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