Swiss Probe Philip Morris Deal: Swiss authorities...

Swiss Probe Philip Morris Deal: Swiss authorities have launched a formal probe of possible insider trading in Jacobs Suchard AG shares before the Swiss chocolate and coffee group agreed last month to be bought by U.S. tobacco and food giant Philip Morris for $3.8 billion. “We have come across some aspects during our informal inquiries that could indicate insider trading,” prosecutor Daniel Tewlin said. “We now want to get some information that we could not get through informal inquiries.” By starting a formal investigation, Tewlin is empowered to seize documents he thinks are pertinent to the case. Insider trading has been illegal in Switzerland since 1988, but no one has ever been prosecuted.