SEC Gives Dean, Kraft, Frito-Lay Notice of Possible Legal Action - KCBD NewsChannel 11 Lubbock

11/6/03

SEC Gives Dean, Kraft, Frito-Lay Notice of Possible Legal Action

Three big food producers could soon face some legal action. Dallas-based Dean Foods says the Securities and Exchange Commission notified it that the agency is considering seeking an injunction against the company.

The SEC also gave similar notice to Plano-based Frito-Lay and Illinois-based Kraft Foods. The companies say the SEC notice alleges they and some of their employees signed documents that helped Fleming Companies speed up the booking of revenue.

The S-E-C notice accuses the companies of possibly aiding and abetting Lewisville-based Fleming in accelerating revenue recognition.

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