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Violation Tracker Individual Record

Company: ConAgra Foods, Inc.
Current Parent Company: ConAgra Brands
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $45,000,000
Year: 2007
Date: July 25, 2007
Offense Group: financial offenses
Primary Offense: accounting fraud or deficiencies
Violation Description: ConAgra Foods, Inc. agreed to pay $45 million to settle allegations that it engaged in improper, and in certain instances fraudulent, accounting practices during its fiscal years 1999 through 2001, including the misuse of corporate reserves to manipulate reported earnings in fiscal year 1999 and a scheme at its former subsidiary, United Agri-Products (UAP), in 2000 that involved, among other things, improper and premature revenue recognition.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Nebraska
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: food products
Specific Industry of Current Parent: food products
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.