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Tyson Foods, Inc. under Investor Investigation concerning Foreign Bribery Allegations
Investigation for investors of Tyson Foods, Inc. concerning Foreign Bribery allegations - NYSE TSN stockholders should contact the Shareholders Foundation at email@example.com
If you are a current long term investor in Tyson Foods, Inc. , and/or if you have information relating the investigation including former employees and/or whistleblowers, you have certain options and you should contact the Shareholders Foundation by email firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in Tyson Foods (Public, NYSE-TSN) concerns whether certain officer and directors at Tyson Foods, Inc. can be held liable in connection with the recent agreement to settle Foreign Bribery charges over possible violations of the U.S. Foreign Corrupt Practices Act (“FCPA”), which prohibits companies from making improper payments to foreign officials for the purpose of obtaining or keeping business.
Tyson Foods’ 52week Total Revenue went from $25.729billion reported on Sept 29, 07 to $28.43billion reported on October 2, 2010. Its Net Income over the same time frame went from $268million to lately $780million.
Springdale, Ark.-based Tyson Foods, Inc announced on Feb. 10, 2011 that it had reached a $5.2 settlement with the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DOJ) with respect to possible improper payments related to an export program at the company's Mexican poultry subsidiary in violations of the Foreign Corrupt Practices Act (FCPA). Of those penalties, $4 million are a criminal fine. Tyson Foods, Inc previously disclosed that in November 2006, the Audit Committee of its Board of Directors engaged outside counsel to conduct a review of certain payments that had been made by one of Tyson Foods’ subsidiaries in Mexico, including payments to individuals employed by Mexican governmental bodies. Tyson Foods said in early 2007, it reported that improper payments of more than $100,000 had been made by Tyson de Mexico to two Mexican government veterinarians, both directly and through their spouses.
According to the Justice Department some of the money was paid to the veterinarians’
Robert Khuzami, director of the SEC’s enforcement division, reportedly said in a statement “Tyson and its subsidiary committed core FCPA violations by bribing government officials through no-show jobs and phony invoices, and by having a lax system of internal controls that failed to detect or prevent the misconduct”.
Shares of Tyson Foods, Inc. (Public, NYSE-TSN) traded during 2006 as low as $13.08 per share and increased throughout 2007 to as high as $23.91 per share. During 2008 TSN shares fell in November to as low as $4.90 per share. During 2009 TSN shares were able to increase and close 09 at $12.27 per share. During 2010 TSN shares reached over $20 per share but recently traded at $17.99 per share.
Those who are current long term investors in Tyson Foods, Inc. (Public, NYSE-TSN), and/or those who have information relating the investigation including former employees and/or whistleblowers, have certain options and should contact the Shareholders Foundation by email email@example.com or call +1(858) 779 - 1554.
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The Shareholders Foundation, Inc. is a professional portfolio legal monitoring service and an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.