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Caught With Their Hands In the Cookie Jar

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Well, the dog biscuit jar anyway. Word just came in that the SEC is freezing accounts of certain investors involved with last weeks sale of Petco. We're seeking confirmation.
Update (one minute later): Developing Fast!
Here’s Reuters on the story.

The U.S. Securities and Exchange Commission said on Wednesday it obtained a court order freezing the assets of certain unknown purchasers who bought call options of Petco Animal Supplies Inc. (PETC.O: Quote, Profile, Research) stock ahead of news that the company would be acquired for $1.8 billion.
The SEC said one or more purchasers engaged in illegal insider trading by buying more than 1,400 call option contracts for Petco in late June and early July 2006.

SEC gets asset freeze in Petco insider trading case [Reuters]