SEC charges Kraft Heinz, former executives in alleged years-long accounting scheme

seekingalpha2021-09-03

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. The ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

SirBahamut
2021-09-05
SirBahamut
Uh oh
SC2021
2021-09-04
SC2021
Kraft
- Jaaaaaaa:
  B
THB
2021-09-03
THB
[Cry]
- THB:
  一
alex alexalex
2021-09-03
alex alexalex
[齜牙]
- alex alexalex:
  g
Jimmyboy
2021-09-03
Jimmyboy
Please like
- MoonMoon:
  Ok
joshua0111
2021-09-03
joshua0111
Nice

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1106356660?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-09-03 21:17","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"1106356660","market":"us","top_or_hot":-1,"title":"SEC charges Kraft Heinz, former executives in alleged years-long accounting scheme","media":"seekingalpha","content":"<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\">Source Link</a>\n\n</div>\n","source":"seekingalpha","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; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\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&nbsp;&nbsp;&nbsp;<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\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"KHC","symbol_name":"卡夫亨氏","start_time":0,"source_url":"https://seekingalpha.com/news/3737149-sec-charge-kraft-heinz-former-executives-in-alleged-years-long-accounting-scheme","article_id":"1106356660","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1106356660","pubTimestamp":1630675056,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"The U.S. Securities and Exchange Commission charged Kraft Heinz Co.(NASDAQ:KHC)with allegedly engagi","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"KHC":"卡夫亨氏"},"translate_title":"美国证券交易委员会指控卡夫亨氏前高管涉嫌长达数年的会计计划","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"KHC":0.9},"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. The accounting \"improprieties\" resulted in Kraft (KHC) reporting inflated adjusted EBITDA.\nIn June 2019, Kraft restated its financials, correcting a $208m in \"improperly-recognized\" costs savings over nearly 300 transactions.\nRecall June 2019,Kraft Heinz files annual report, 'returning to path of normalization andMay 2019, Kraft -3% after accounting update.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":814294395,"gmtCreate":1630820367817,"gmtModify":1676530401385,"author":{"id":"3581734227956830","authorId":"3581734227956830","name":"SirBahamut","avatar":"https://community-static.tradeup.com/news/bfb00d5085e2ed1685d99f51539c6bb1","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3581734227956830","idStr":"3581734227956830"},"htmlText":"Uh oh","listText":"Uh oh","text":"Uh oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/814294395","repostId":1106356660,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":814925960,"gmtCreate":1630747525450,"gmtModify":1676530389791,"author":{"id":"3574796007598692","authorId":"3574796007598692","name":"SC2021","avatar":"https://static.tigerbbs.com/7db1014f5edc3cd0a7562d4262d0a5a5","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3574796007598692","idStr":"3574796007598692"},"htmlText":"Kraft","listText":"Kraft","text":"Kraft","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/814925960","repostId":1106356660,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5763287,"gmtCreate":1630879944559,"gmtModify":1663233434333,"authorId":3570001951488746,"author":{"id":3570001951488746,"idStr":"3570001951488746","authorId":3570001951488746,"name":"Jaaaaaaa","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":814925960,"type":1,"supId":0,"prevId":0,"content":"B","text":"B","html":"B"}],"langContent":"EN"},{"id":815643213,"gmtCreate":1630677585432,"gmtModify":1676530374063,"author":{"id":"3582189889665842","authorId":"3582189889665842","name":"THB","avatar":"https://static.tigerbbs.com/714f3e61faee0b8a2ef01897bed9705d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3582189889665842","idStr":"3582189889665842"},"htmlText":"[Cry]&nbsp;","listText":"[Cry]&nbsp;","text":"[Cry]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815643213","repostId":1106356660,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5743405,"gmtCreate":1630677591357,"gmtModify":1663233344943,"authorId":3582189889665842,"author":{"id":3582189889665842,"idStr":"3582189889665842","authorId":3582189889665842,"name":"THB","avatar":"https://static.tigerbbs.com/714f3e61faee0b8a2ef01897bed9705d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815643213,"type":1,"supId":0,"prevId":0,"content":"一","text":"一","html":"一"}],"langContent":"EN"},{"id":815657931,"gmtCreate":1630677367623,"gmtModify":1676530373985,"author":{"id":"3583241719564784","authorId":"3583241719564784","name":"alex alexalex","avatar":"https://community-static.tradeup.com/news/70b9686e00805fd5dc432e73e65c8f37","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3583241719564784","idStr":"3583241719564784"},"htmlText":"[齜牙]&nbsp;","listText":"[齜牙]&nbsp;","text":"[齜牙]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815657931","repostId":1106356660,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5743363,"gmtCreate":1630677379805,"gmtModify":1663233343139,"authorId":3583241719564784,"author":{"id":3583241719564784,"idStr":"3583241719564784","authorId":3583241719564784,"name":"alex alexalex","avatar":"https://community-static.tradeup.com/news/70b9686e00805fd5dc432e73e65c8f37","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815657931,"type":1,"supId":0,"prevId":0,"content":"<u>g</u>","text":"<u>g</u>","html":"<u>g</u>"}],"langContent":"CN"},{"id":815652397,"gmtCreate":1630677233719,"gmtModify":1676530373921,"author":{"id":"3582072891665879","authorId":"3582072891665879","name":"Jimmyboy","avatar":"https://static.tigerbbs.com/cb9d5d497bceb3edaca216e9eeab3c22","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3582072891665879","idStr":"3582072891665879"},"htmlText":"Please like","listText":"Please like","text":"Please like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/815652397","repostId":1106356660,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5758948,"gmtCreate":1630818148370,"gmtModify":1663233414634,"authorId":3581831647982295,"author":{"id":3581831647982295,"idStr":"3581831647982295","authorId":3581831647982295,"name":"MoonMoon","avatar":"https://static.tigerbbs.com/7abc88bf78bc4fd17d5085b308a74c4d","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.01.14","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":815652397,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":815659786,"gmtCreate":1630677040445,"gmtModify":1676530373828,"author":{"id":"3579878222573636","authorId":"3579878222573636","name":"joshua0111","avatar":"https://static.tigerbbs.com/662a143659b3954c78c2e0a2c91c466b","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3579878222573636","idStr":"3579878222573636"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815659786","repostId":1106356660,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":95,"commentSize":12,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1106356660"}