Defendant Name:
Tyson Foods, Inc.
Defendant Type:
Public Company
SIC Code:
2015
CUSIP:
90249410
Initial Case Details
Legal Case Name
SEC v. Tyson Foods, Inc.
First Document Date
10-Feb-2011
Initial Filing Format
Civil Proceeding
Case Number
11-cv-00350
Allegation Type
Foreign Corrupt Practices Act
Federal District Court
District of Columbia, District of Columbia
Resolutions
First Resolution Date
10-Feb-2011
Headline Total Penalty and Disgorgement
See Related Documents
Related Documents:
SEC Charges Tyson Foods with FCPA Violations; Tyson Foods to Pay Disgorgement Plus Pre-judgment Interest of More than $1.2 million; Tyson Foods to Pay Criminal Penalty of $4 Million
On February 10, 2011, the SEC issued a litigation release. According to the release, the SEC has filed a settled civil action against Tyson Foods, Inc. The SEC alleges that : "Tyson Foods' subsidiary, Tyson de Mexico, made improper payments during fiscal years 2004 to 2006 to two Mexican government veterinarians responsible for certifying its chicken products for export sales."
Complaint
On February 10, 2011, the SEC filed a complaint against Tyson Foods, Inc., alleging violations of "anti-bribery, books and records and internal controls provisions of the Foreign Corrupt Practices Act."
2011-42
10-Feb-2011
Press Release--Civil Action
SEC Charges Tyson Foods with FCPA Violations
On February 10, 2011, the SEC announced that it charged Tyson Foods Inc. ("Tyson Foods") with violating the Foreign Corrupt Practices Act ("FCPA") by making illicit payments to two Mexican government veterinarians responsible for certifying its Mexican subsidiary's chicken products for export sales. According to the SEC's complaint filed in federal court in the District of Columbia, the scheme occurred during fiscal years 2004 to 2006. Without admitting or denying the SEC's allegations, Tyson Foods consented to the entry of a final judgment ordering disgorgement plus prejudgment interest of more than $1.2 million and permanently enjoining it from future violations of the federal securities law. The proposed settlement remains subject to court approval. In a related criminal proceeding, the Department of Justice ("DOJ") charged Tyson Foods with conspiring to violate the FCPA and violating the FCPA. The DOJ and Tyson Foods agreed to resolve the charges by entering into a deferred prosecution agreement under which the company agreed to pay a $4 million criminal penalty.
Final Judgment as to Defendant Tyson Foods, Inc.
On February 14, 2011, Federal District Judge Rosemary M. Collyer entered final judgment against Tyson Foods, Inc. pursuant to the consent of Tyson Foods, Inc.