SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Involving Possible Securities Fraud Violations by Certain Officers and Directors of The Kraft Heinz Company
NEW YORK, Feb. 22, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces it has commenced an investigation of The Kraft Heinz Company (“Kraft Heinz” or “the Company”) (NASDAQ: KHC) concerning possible violations of federal securities laws.
On February 21, 2019, Kraft Heinz filed a Form 8-K disclosing the recording of a $15.4 billion non-cash impairment charge. The Company also disclosed that in October of 2018 it received a subpoena from the U.S. Securities and Exchange Commission concerning “the Company’s procurement area, more specifically the Company’s accounting policies, procedures, and internal controls related to its procurement function…” As a result of an investigation, the Company “recorded a $25 million increase to costs of products sold as an out of period correction” and is “in the process of implementing certain improvements to its internal controls to mitigate the likelihood of this occurring in the future and has taken other remedial measures.” Following this news, shares of Kraft Heinz were down more than 26% on intraday trading on February 22, 2019. To obtain additional information, go to:
or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLPJoseph E. Levi, Esq.55 Broadway, 10th FloorNew York, NY 10006Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com