ZhaoYingying
2021-09-03
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SEC charges Kraft Heinz, former executives in alleged years-long accounting scheme
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The accounting \"improprieties\" resulted in Kraft (KHC) reporting inflated adjusted EBITDA.</li>\n <li>In June 2019, Kraft restated its financials, correcting a $208m in \"improperly-recognized\" costs savings over nearly 300 transactions.</li>\n <li>Recall June 2019,Kraft Heinz files annual report, 'returning to path of normalization andMay 2019, Kraft -3% after accounting update.</li>\n</ul>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC charges Kraft Heinz, former executives in alleged years-long accounting scheme</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC charges Kraft Heinz, former executives in alleged years-long accounting scheme\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 21:17 GMT+8 <a href=https://seekingalpha.com/news/3737149-sec-charge-kraft-heinz-former-executives-in-alleged-years-long-accounting-scheme><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The U.S. Securities and Exchange Commission charged Kraft Heinz Co.(NASDAQ:KHC)with allegedly engaging in a long-running \"expense management scheme\"that resulted in several years of restatements.\nThe ...</p>\n\n<a href=\"https://seekingalpha.com/news/3737149-sec-charge-kraft-heinz-former-executives-in-alleged-years-long-accounting-scheme\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"KHC":"卡夫亨氏"},"source_url":"https://seekingalpha.com/news/3737149-sec-charge-kraft-heinz-former-executives-in-alleged-years-long-accounting-scheme","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1106356660","content_text":"The U.S. Securities and Exchange Commission charged Kraft Heinz Co.(NASDAQ:KHC)with allegedly engaging in a long-running \"expense management scheme\"that resulted in several years of restatements.\nThe SEC also charged Kraft's former Chief Operating Officer Eduardo Pelleissone and its former Chief Procurement Officer Klaus Hofmann for their alleged \"misconduct\" related to the scheme, according to astatement.\nWithout admitting or denying the SEC's findings, Kraft agreed to a cease and desist from future violations and pay a civil penalty of $62M.\nThe SEC claims that from the last quarter of 2015 to the end of 2018 Kraft engaged in various forms of \"accounting misconduct,\" including recognizing unearned discounts from suppliers and maintaining \"false and misleading\" supplier contracts. 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