U.S. Securities and Exchange Commission Obtains Asset Freeze in Smithfield Foods Inquiry
On June 5, 2013, the Securities and Exchange Commission obtained an emergency court order to freeze the assets of a trader in Bangkok, Thailand who, according to allegations in the SEC's civil complaint, allegedly made more than $3 million in profits by trading in advance of the announcement that Virginia-based Smithfield Foods, Inc. agreed to a multi-billion dollar acquisition by China-based Shuanghui International Holdings Limited. The order was signed by U.S. District Judge Matthew F. Kennelly of the U.S. District Court for the Northern District of Illinois. Read PDF »