3 at Tyson Subsidiary Named in SEC Inquiry
Tyson Foods Inc. said three employees of a subsidiary have been targeted by federal regulators over alleged improprieties in financial statements.
Tyson said in a filing with the Securities and Exchange Commission that regulators said they were recommending enforcement action against the workers at DFG Foods, a subsidiary at the heart of a dispute over Tyson’s acquisition of IBP Inc.
A judge ruled last year that Springdale, Ark.-based Tyson could not back out of its planned $4.7-billion acquisition of IBP. The meatpacker has since been rolled into Tyson operations.
Tyson shares fell 22 cents to $11.80 on the NYSE.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
