At Kraft Heinz, a fed investigation and a $15.4B write-down
PITTSBURGH (AP) — Kraft Heinz disclosed an investigation by federal regulators and said it will slash the value of its Oscar Mayer and Kraft brands by $15.4 billion, major setbacks for a company trying to revitalize its stable of household-name brands.
raft Heinz said the investigation by the U.S. Securities and Exchange Commission is related to its accounting practices in the division that handles interactions with suppliers. The SEC declined to comment.
https://www.bostonherald.com/2019/02/22/shares-in-kraft-heinz-to-plunge-on-news-of-us-probe-loss/