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Saturday, September 04, 2021 12:27:26 AM
The agency alleges that from the last quarter of 2015 to the end of 2018, Kraft "engaged in various types of accounting misconduct" — including faking supplier contracts to get discounts that the company hadn't earned — to ultimately make their financials look better to analysts and investors.
Kraft Heinz (KHC) already had to restate its full-year and quarterly results for 2016 and 2017 after its an internal investigation following the launch of the SEC probe in 2019.
Two individuals, Kraft's former chief operating officer Eduardo Pelleissone and former chief procurement officer Klaus Hofmann, were also personally charged for alleged misconduct in the case after fabricating an estimated 59 supplier and procurement transactions, according to the SEC's complaint. They settled for $300,000 and $100,000, respectively. Hofmann will be barred from serving as an officer or director for five years.
Recent KHC News
- Kraft Heinz Brings New IHOP® Syrups to Homes Nationwide • Business Wire • 07/23/2024 10:00:00 AM
- “Let’s-a-go!” KRAFT Mac & Cheese and Nintendo Fuel Fans with New Super Mario™ Power-Up Shapes • Business Wire • 07/17/2024 10:00:00 AM
- Ore-Ida and GoodPop Launch Frozen Treat Inspired by One of America’s Most Popular Food Combinations: French Fries Dipped in a Milkshake • Business Wire • 07/16/2024 10:00:00 AM
- Cosplay Meets Condiments: HEINZ to Release Limited-Edition Ketchup and Mustard Collectibles Inspired by Marvel Studios’ “Deadpool & Wolverine” • Business Wire • 07/15/2024 11:00:00 AM
- The Kraft Heinz Company to Report Second Quarter 2024 Results on July 31, 2024 • Business Wire • 07/09/2024 01:00:00 PM
- Calling All Pickle Lovers: Claussen® Pickles and Baked by Melissa Celebrate National Pickle Month with an Exclusive Pickle Cupcake • Business Wire • 07/08/2024 10:00:00 AM
- Fashion Meets Flavor: HEINZ and kate spade new york Debut Red-Hot Capsule Collection • Business Wire • 06/26/2024 12:00:00 PM
- Form 11-K - Annual report of employee stock purchase, savings and similar plans • Edgar (US Regulatory) • 06/18/2024 05:33:51 PM
- Form 11-K - Annual report of employee stock purchase, savings and similar plans • Edgar (US Regulatory) • 06/18/2024 05:30:21 PM
- After 20 Years, Ore-Ida – the Inventor of Tater Tots – Comes to Napoleon Dynamite’s Rescue with First-Ever, Tater Tot-Protecting Pants • Business Wire • 06/17/2024 10:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:47:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:46:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:45:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:44:17 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:42:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:36:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:34:54 PM
- Back by Popular Demand: HEINZ to Drop Limited-Edition Black Garlic Ranch and Harissa Aioli Sauces in Stores Nationwide • Business Wire • 06/04/2024 11:01:00 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/03/2024 03:41:17 PM
- Kraft Heinz to Participate in Deutsche Bank’s Annual dbAccess Global Consumer Conference • Business Wire • 05/29/2024 01:00:00 PM
- Kraft Heinz Canada et Highbury Canco prolongent leur entente de production à l’usine de Leamington jusqu’en 2027 • Business Wire • 05/29/2024 12:00:00 PM
- Kraft Heinz Canada, Highbury Canco Extend Leamington Facility Agreement Through 2027 • Business Wire • 05/29/2024 12:00:00 PM
- Kraft Heinz to Participate in Bernstein’s 40th Annual Strategic Decisions Conference • Business Wire • 05/23/2024 01:00:00 PM
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