Newell Brands, a popular manufacturer of everyday commercial products, disclosed in a regulatory filing Monday it is facing a Securities and Exchange Commission subpoena over its sales and accounting practices.
In a Form 10-K filing with the SEC, the company noted its receipt of the subpoena on Jan. 31, 2020. The SEC is probing the period from Jan. 1, 2016, through when the subpoena was sent.
“The subpoena followed various informal document requests from the SEC staff, including several requests primarily related to the impairment of goodwill and other intangible assets,” Newell Brands explained in the filing. “The Company has cooperated in providing documents and information to the SEC in connection with its requests and intends to continue to do so in connection with the subpoena. The Company cannot predict the timing or outcome of this investigation.”