September 29, 2023

Consumer products company Newell Brands Inc. and its CEO, Michael Polk, have agreed to pay $12.5 million and $110,000 in civil penalties, respectively, to resolve charges of misleading investors about its core sales growth.  The company allegedly engaged in accounting practices that were inconsistent with Generally Accepted Accounting Principles (GAAP), which made it appear as if it had hit its sales targets when in fact it had not.  SEC

Tagged in: Financial and Investment Fraud,