Newell, ex-CEO settle with SEC over sales disclosures
By 
Adrianne Appel2023-09-29T17:18:00
Consumer products company Newell Brands agreed to pay $12.5 million as part of a settlement with the Securities and Exchange Commission (SEC) addressing allegations the company misled investors about its core sales growth.
The company’s former chief executive, Michael Polk, settled with the SEC over similar charges. He was fined $110,000, the agency announced in a press release Friday.
The charges date back to 2016 and 2017, when Newell allegedly used a non-GAAP (generally accepted accounting principles) measure to explain sales trends to investors.
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