RESTAURANTS

Suit Alleges Insider Trading in Rally’s Acquisition: Orange County businessman William P. Foley II was accused in a lawsuit of illegally using insider information to acquire more than 8% of the company that controls the troubled Rally’s Hamburgers Inc. chain. The suit, filed in U.S. District Court, also alleges that the chairman of Irvine-based Fidelity National Financial Inc. and CKE Restaurants in Anaheim failed to accurately report how much Giant Group Ltd. stock Fidelity National and Foley have acquired in recent months. Los Angeles-based Giant also alleges that a group led by Foley is covering up its intention to try to gain control of Rally’s by acquiring shares of Giant, which owns 48% of the burger chain. Fidelity National Vice President and General Counsel Andrew Puzder dismissed the suit as without merit.