04:08 PM EDT, 07/22/2024 (MT Newswires) -- Kraft Heinz ( KHC ) shareholders lost a lawsuit against Jorge Paulo Lemann, Alexandre Behring and affiliates of 3G Capital, along with other current and former Kraft board members, after a Delawar judge dismissed the case alleging insider trading.

The lawsuit claimed that Lemann, Behring, and 3G cut their stake in Kraft because they knew the company would announce a $15.4 billion impairment charge in February 2019.

An email from 3G in July 2018 seeking "realistic" financial assessments about Kraft, a month before the investment firm sold 7% of its stake, didn't "suggest that the trading defendants learned material information different from what the market knew," Vice Chancellor Lori Will ruled Friday.

Kraft Heinz ( KHC ) didn't immediately respond to a request for comment from MT Newswires.

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