Under the SEC Order, Kraft Heinz agreed to pay a civil penalty of $62 million and agreed to cease and desist from future viuolatings of the federal securities laws.
Pelleissone agreed to pay a civil penalty of $300,000 as well as to pay disgorgement and prejudgment interest of $14, 211.32. He also consented to stop from future violations.
Hoffmann agreed to pay a civil penalty of $100,000 and to cease and desist from future violations. He also agreed to the SEC order prohibiting him from serving as an officer or director of a public company for five years. The Commission’s settlement with him is subject to court approval.
In a statement, SEC division of Enforcement Associate Director Anita Brandy said, “Kraft and its former executives are being held accountable for placing the pursuit of cost savings above compliance with the law.”
———————————-
Have a story you want USA Herald to cover? Submit a tip here and if we think it’s newsworthy, we’ll follow up on it.
Want to contribute a story? We also accept article submissions – check out our writer’s guidelines here.
