FOR IMMEDIATE PUBLICATION
Saturday, 16 February 2013.
Former police officer Constable TK Ferdinands has written to the Weatherill government seeking $38 million in damages for fraud which resulted in the illegal and wrongful termination of his police service in 1999.
Mr Ferdinands says, "I have written to new Commissioner Gary Burns for several weeks to try and settle these matters but unfortunately I have had no support or response. I have asked the Premier to intervene and he has refused to do so, thus it seems that these matters are headed for the courts and possible trial".
Mr Ferdinands has sought leave to file application for judicial review of all amters and the Master of the Supreme Court has approved leave on 14 February 2013.
Mr Ferdinands will file his documents on Wednesday of next week (21 February 2013) in the Supreme Court of South Australia. The claim seeks reinstatement into force, loss of wages, loss of opportunity and damages.
Friday, February 15, 2013
WARREN BUFFETT: MAY PLEAD GUILTY TO ALL CHARGES
US
investigating
trading
in
Heinz
deal
US regulators want to know whether traders were given insider information
before investors Warren Buffett and Jorge Paulo Lemann announced their plan to
buy HJ Heinz for $US23 billion ($A22.33 billion) this week, a report
says.
The deal would see Buffett's Berkshire Hathaway investment company spend
about $US12 billion to $US13 billion to buy the maker of Heinz tomato ketchup.
Lemann's investment would be made through his 3G Capital private investment
fund, according to the terms of the deal.
The Securities and Exchange Commission (SEC), which regulates US stock markets, is looking into whether traders were tipped off early on the news that Heinz would be bought and used the information to profit, The New York Times reported.
An SEC spokeswoman said the agency had no comment. She said its standard policy is not to comment on investigations.
The deal, announced on Thursday, is being called the largest ever in the food industry. The buyers' bid was $US72.50 a share, a 20 per cent premium over Wednesday's closing price of $US60.48.
But if the preliminary inquiry turns into a broader investigation, it could cast a shadow over the transaction, the newspaper reported. It would also be place Buffett in a bad light. The 82-year-old is said to place a high value on integrity.
Insider trading is illegal because trades based on confidential information disadvantages other investors.
The inquiry is expected to look into options trading in Heinz shares. As of Tuesday, there was little activity in Heinz options. But, by Wednesday, as the deal was being finalised, options trading jumped, data from Bloomberg shows.
3G Capital was linked to possible insider trading last year when the SEC froze the assets of a banker in September. The banker had been involved in 3G Capital's acquisition of Burger King in 2010. The insider tip was believed to have been received by a business partner of 3G Capital. No charges were made against the investor himself.
The Securities and Exchange Commission (SEC), which regulates US stock markets, is looking into whether traders were tipped off early on the news that Heinz would be bought and used the information to profit, The New York Times reported.
An SEC spokeswoman said the agency had no comment. She said its standard policy is not to comment on investigations.
The deal, announced on Thursday, is being called the largest ever in the food industry. The buyers' bid was $US72.50 a share, a 20 per cent premium over Wednesday's closing price of $US60.48.
But if the preliminary inquiry turns into a broader investigation, it could cast a shadow over the transaction, the newspaper reported. It would also be place Buffett in a bad light. The 82-year-old is said to place a high value on integrity.
Insider trading is illegal because trades based on confidential information disadvantages other investors.
The inquiry is expected to look into options trading in Heinz shares. As of Tuesday, there was little activity in Heinz options. But, by Wednesday, as the deal was being finalised, options trading jumped, data from Bloomberg shows.
3G Capital was linked to possible insider trading last year when the SEC froze the assets of a banker in September. The banker had been involved in 3G Capital's acquisition of Burger King in 2010. The insider tip was believed to have been received by a business partner of 3G Capital. No charges were made against the investor himself.
WARREN BUFFETT: FACING LIFE SENTENCE FOR INSIDER TRADING
US
investigating
trading
in
Heinz
deal
US regulators want to know whether traders were given insider information
before investors Warren Buffett and Jorge Paulo Lemann announced their plan to
buy HJ Heinz for $US23 billion ($A22.33 billion) this week, a report
says.
The deal would see Buffett's Berkshire Hathaway investment company spend
about $US12 billion to $US13 billion to buy the maker of Heinz tomato ketchup.
Lemann's investment would be made through his 3G Capital private investment
fund, according to the terms of the deal.
The Securities and Exchange Commission (SEC), which regulates US stock markets, is looking into whether traders were tipped off early on the news that Heinz would be bought and used the information to profit, The New York Times reported.
An SEC spokeswoman said the agency had no comment. She said its standard policy is not to comment on investigations.
The deal, announced on Thursday, is being called the largest ever in the food industry. The buyers' bid was $US72.50 a share, a 20 per cent premium over Wednesday's closing price of $US60.48.
But if the preliminary inquiry turns into a broader investigation, it could cast a shadow over the transaction, the newspaper reported. It would also be place Buffett in a bad light. The 82-year-old is said to place a high value on integrity.
Insider trading is illegal because trades based on confidential information disadvantages other investors.
The inquiry is expected to look into options trading in Heinz shares. As of Tuesday, there was little activity in Heinz options. But, by Wednesday, as the deal was being finalised, options trading jumped, data from Bloomberg shows.
3G Capital was linked to possible insider trading last year when the SEC froze the assets of a banker in September. The banker had been involved in 3G Capital's acquisition of Burger King in 2010. The insider tip was believed to have been received by a business partner of 3G Capital. No charges were made against the investor himself.
The Securities and Exchange Commission (SEC), which regulates US stock markets, is looking into whether traders were tipped off early on the news that Heinz would be bought and used the information to profit, The New York Times reported.
An SEC spokeswoman said the agency had no comment. She said its standard policy is not to comment on investigations.
The deal, announced on Thursday, is being called the largest ever in the food industry. The buyers' bid was $US72.50 a share, a 20 per cent premium over Wednesday's closing price of $US60.48.
But if the preliminary inquiry turns into a broader investigation, it could cast a shadow over the transaction, the newspaper reported. It would also be place Buffett in a bad light. The 82-year-old is said to place a high value on integrity.
Insider trading is illegal because trades based on confidential information disadvantages other investors.
The inquiry is expected to look into options trading in Heinz shares. As of Tuesday, there was little activity in Heinz options. But, by Wednesday, as the deal was being finalised, options trading jumped, data from Bloomberg shows.
3G Capital was linked to possible insider trading last year when the SEC froze the assets of a banker in September. The banker had been involved in 3G Capital's acquisition of Burger King in 2010. The insider tip was believed to have been received by a business partner of 3G Capital. No charges were made against the investor himself.
WARREN BUFFET: INSIDER TRADING ALLEGATIONS
US
investigating
trading
in
Heinz
deal
US regulators want to know whether traders were given insider information
before investors Warren Buffett and Jorge Paulo Lemann announced their plan to
buy HJ Heinz for $US23 billion ($A22.33 billion) this week, a report
says.
The deal would see Buffett's Berkshire Hathaway investment company spend
about $US12 billion to $US13 billion to buy the maker of Heinz tomato ketchup.
Lemann's investment would be made through his 3G Capital private investment
fund, according to the terms of the deal.
The Securities and Exchange Commission (SEC), which regulates US stock markets, is looking into whether traders were tipped off early on the news that Heinz would be bought and used the information to profit, The New York Times reported.
An SEC spokeswoman said the agency had no comment. She said its standard policy is not to comment on investigations.
The deal, announced on Thursday, is being called the largest ever in the food industry. The buyers' bid was $US72.50 a share, a 20 per cent premium over Wednesday's closing price of $US60.48.
But if the preliminary inquiry turns into a broader investigation, it could cast a shadow over the transaction, the newspaper reported. It would also be place Buffett in a bad light. The 82-year-old is said to place a high value on integrity.
Insider trading is illegal because trades based on confidential information disadvantages other investors.
The inquiry is expected to look into options trading in Heinz shares. As of Tuesday, there was little activity in Heinz options. But, by Wednesday, as the deal was being finalised, options trading jumped, data from Bloomberg shows.
3G Capital was linked to possible insider trading last year when the SEC froze the assets of a banker in September. The banker had been involved in 3G Capital's acquisition of Burger King in 2010. The insider tip was believed to have been received by a business partner of 3G Capital. No charges were made against the investor himself.
The Securities and Exchange Commission (SEC), which regulates US stock markets, is looking into whether traders were tipped off early on the news that Heinz would be bought and used the information to profit, The New York Times reported.
An SEC spokeswoman said the agency had no comment. She said its standard policy is not to comment on investigations.
The deal, announced on Thursday, is being called the largest ever in the food industry. The buyers' bid was $US72.50 a share, a 20 per cent premium over Wednesday's closing price of $US60.48.
But if the preliminary inquiry turns into a broader investigation, it could cast a shadow over the transaction, the newspaper reported. It would also be place Buffett in a bad light. The 82-year-old is said to place a high value on integrity.
Insider trading is illegal because trades based on confidential information disadvantages other investors.
The inquiry is expected to look into options trading in Heinz shares. As of Tuesday, there was little activity in Heinz options. But, by Wednesday, as the deal was being finalised, options trading jumped, data from Bloomberg shows.
3G Capital was linked to possible insider trading last year when the SEC froze the assets of a banker in September. The banker had been involved in 3G Capital's acquisition of Burger King in 2010. The insider tip was believed to have been received by a business partner of 3G Capital. No charges were made against the investor himself.
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