Kraft Heinz To Pay $62 Mln To Settle SEC Investigation On Accounting Policies

Kraft Heinz Co. (KHC) disclosed, in a regulatory filing on Friday, that it agreed to pay a $62 million civil penalty to settle an investigation by the U.S. Securities and Exchange Commission into accounting policies, procedures and internal controls.

The company said it does not admit or deny findings in the administrative order issued by the SEC. It agrees to cease and desist from violations of specified provisions of federal securities laws.

The company noted that it recorded an accrual for the full amount of the penalty in the second quarter of 2021.

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