Judge Throws Out Mondelez International, Kraft Heinz Lawsuit Dismissal Request
Troubles are on the horizon for Mondelez International Inc (NASDAQ:MDLZ) and Kraft Heinz Co (NASDAQ:KHC) after US District Judge Edmond Chang refused to dismiss the lawsuit against the two companies, and said the traders may proceed with the price rigging suit. In the lawsuit, several traders claim that Mondelez International and Kraft Heinz illegally manipulated the price of wheat at their expense in 2011, violating the Sherman antitrust law and the Commodity Exchange Act. Billionaire investor Warren Buffett’s Berkshire Hathaway is one of the 60 hedge funds from our system having long positions in Kraft Heinz Co (NASDAQ:KHC) at the end of March. On the other hand, 63 funds were bullish on Mondelez International Inc (NASDAQ:MDLZ) at the end of the first quarter. Nelson Peltz’s Trian Partners owns around 48.02 million shares of the company.
Exxon Mobil Finds New Oil and Gas Deposits
Exxon Mobil Corporation (NYSE:XOM)’s stock has inched up today after Energy Minister of Guyana said on Monday that Exxon Mobil had found large deposits of oil and gas in recent drilling projects in the country. Exxon’s drilling facility in Guyana is located around 150 miles offshore from Guyana’s east coast. Richard S. Pzena’s Pzena Investment Management holds around 4.98 million shares of Exxon Mobil Corporation (NYSE:XOM) as of the end of the first quarter.