Defendant Name:
Tyson Foods, Inc.
Defendant Type:
Public Company
Document Reference:
2011-42
Document Details
Legal Case Name
SEC v. Tyson Foods, Inc.
Document Name
SEC Charges Tyson Foods with FCPA Violations
Document Date
10-Feb-2011
Document Format
Civil Proceeding
Case Number
11-cv-00350
Federal District Court
District of Columbia, District of Columbia
Allegation Type
Foreign Corrupt Practices Act
Document Summary
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.
Disgorgement & Penalty Information
Resolutions
Enjoinment
Cooperation Before the Resolution
Monetary Penalties:
Disgorgement
(Penalty was noted in document, but no amount was listed)
Pre-Judgment Interest
(Penalty was noted in document, but no amount was listed)
Total Penalty
Individual:
$1,200,000.00
Shared:
