Kraft Heinz To Pay $62 Million To Settle SEC Accounting Charges

By: KDKA-TV News Staff

PITTSBURGH (KDKA) -- Kraft Heinz will have to pay $62 million for misrepresenting its financial results.

The company boasted about the cost savings from its merger between 2015 and 2018.

The SEC says a lot of those savings were from accounting tricks to make their financials look better to investors.

The former COO of the company was singled out and will have to pay his own fine of more than $300,000.