In an unprecedented move, Swiss authorities have committed to assist in the ongoing US investigation on insider trading of H.J. Heinz and Co. The crux of the investigation would be in the day leading up to the eventual sale of the company in the market.

Many analysts and observers saw unusual activity after Berkshire Hathaway and 3G Capital of Brazil had announced that the two would be purchasing Heinz for US$23 billion. This prompted SEC authorities to file a case against unnamed traders who allegedly utilized a Goldman Sachs account located in Switzerland to trade shares of Heinz using insider trading information from the sale.

The questioned transactions were traded call options, which are in essence agreements that provide options to purchase the shares at a pre-determined price on a specified date. This also prompted the US Federal Bureau of Investigation to conduct its own inquiry.

Heinz, Berkshire Hathaway and 3G Capital have declined to issue comments on the matter.