Defendant Name: The Kraft Heinz Co.

Defendant Type: Public Company

Document Reference: 34-93703

Document Details

Legal Case Name In the Matter of Kraft Heinz Co. and Eduardo Pelleissone
Document Name Extension Order
Document Date 02-Dec-2021
Document Format Administrative Proceeding
File Number 3-20523
Allegation Type Issuer Reporting and Disclosure
Document Summary The Commission ordered that: "the Division's request for an extension of time until August 31, 2022 to submit a Proposed Plan of Distribution is granted."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Extension order
Fair Funds

Related Documents:

33-10977 03-Sep-2021 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings, Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings and Imposing a Cease-and-Desist Order
On September 3, 2021, the SEC instituted settled cease-and-desist proceedings against the Kraft Heinz Co. and Eduardo Pelleissone stating: "This matter concerns a multi-year expense management scheme by KHC's procurement division to improperly reduce KHC's cost of goods sold and achieve cost savings that were externally touted to the market and internally tied to performance-based targets. The misconduct resulted in KHC reporting inflated earnings before interest, taxes, depreciation and amortization ("EBITDA"), a key performance metric for investors."
2021-174 03-Sep-2021 Press Release--Administrative Proceeding
SEC Charges The Kraft Heinz Company and Two Former Executives for Engaging in Years-Long Account Scheme
The SEC stated that: "[It] charged The Kraft Heinz Company with engaging in a long-running expense management scheme that resulted in the restatement of several years of financial reporting. The SEC also charged Kraft's former Chief Operating Officer Eduardo Pelleissone and its former Chief Procurement Officer Klaus Hofmann for their misconduct related to the scheme."
34-93878 29-Dec-2021 Administrative Proceeding
Order Appointing Tax Administrator
The Commission ordered that: "Miller Kaplan . . . is appointed the Tax Administrator for the QSF in the above-referenced proceeding."
34-94380 08-Mar-2022 Administrative Proceeding
Order Appointing Fund Administrator and Setting Administrator's Bond Amount
The Commission stated: "It is hereby ordered that RFS is appointed as the fund administrator . . . and shall obtain a bond . . . in the amount of $62,314,211.31."
34-95277 14-Jul-2022 Administrative Proceeding
Notice of Proposed Plan of Distribution and Opportunity for Comment
The Commission stated: "Notice is hereby given . . . that the Division of Enforcement has submitted to the Commission a proposed plan of distribution (the “Proposed Plan”) for the distribution of monies paid in the above-captioned matter."
34-95277-pdp 14-Jul-2022 Administrative Proceeding
Proposed Plan of Distribution
The Commission stated: "the Plan seeks to compensate investors who were harmed by the Respondents’ conduct described in the Order, in connection with a multi-year expense management scheme."
34-95702 08-Sep-2022 Administrative Proceeding
Order Extending Time to Enter an Order Approving or Disapproving Plan of Distribution
The Commission ordered "that . . . for good cause shown, the time for entering an order approving or disapproving the Plan is extended to December 30, 2022."
34-96578 23-Dec-2022 Administrative Proceeding
Order Approving Plan of Distribution
The Commission ordered that: "the Proposed Plan is approved, and the approved Plan of Distribution shall be posted simultaneously with this Order on the Commission's website at www.sec.gov."
34-96578-dp 23-Dec-2022 Administrative Proceeding
Plan of Distribution
The Commission stated: "The Division of Enforcement submitted this Plan of Distribution (the “Plan”) to the United States Securities and Exchange Commission . . . This Plan provides for the distribution of a Fair Fund (the “Fair Fund”), comprised of disgorgement, prejudgment interest, and civil money penalties paid by The Kraft Heinz Co. (“KHC”) and Eduardo Pelleissone (collectively, the “Respondents”) in the above-captioned matter."
34-98398 14-Sep-2023 Administrative Proceeding
Order Approving Application of Fund Administrator for Payment of Fees and Expenses and Approval of Future Payment of Fees and Expenses
The Commission ordered that: "OFM pay the Fund Administrator’s fees and expenses of $10,488.75 from the Fair Fund in accordance with Rule 1105(e) of the Commission’s Rules.6 Further, OFM is authorized to pay, at the direction of an Assistant Director of the Office of Distributions, the fees and expenses of the Fund Administrator from the Fair Fund in accordance with Rule 1105(e) of the Commission’s Rules,7 so long as the total amount paid to the Fund Administrator, including the invoice to be paid, does not exceed the total amount of the approved cost proposal submitted by the Fund Administrator."

Other Defendants in Action:

Related Actions:

SEC v. Klaus Hofmann