Fleming settles SEC case; suppliers fined

Sept. 15, 2004
Lewisville TX-based Fleming Companies has settled charges of improper accounting, and several of its suppliers will be assessed penalties.

Lewisville TX-based Fleming Companies has settled charges of improper accounting, and several of its suppliers will be assessed penalties arising from the food distributor overstating profits in 2001–02, according to a Houston Chronicle newspaper article.

The Securities and Exchange Commission (SEC) said the penalized suppliers include Dean Foods and Kraft Foods. They and others consented to pay fines ranging from $100,000 to $400,000, and some of their workers agreed to pay $25,000 to $75,000.

The SEC does not plan to seek civil penalties against Fleming, which once was the top grocery distributor in the United States. In April 2003, Fleming sought Chapter 11 bankruptcy protection and emerged from it recently.

About the Author

from staff and wire reports

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Leveraging telematics to get the most from insurance

Fleet owners are quickly adopting telematics as part of their risk mitigation strategy. Here’s why.

Reliable EV Charging Solution for Last-Mile Delivery Fleets

Selecting the right EV charging infrastructure and the right partner to best solve your needs are critical. Learn which solution PepsiCo is choosing to power their fleet and help...

Overcoming Common Roadblocks Associated with Fleet Electrification at Scale

Fleets in the United States, are increasingly transitioning from internal combustion engine vehicles to electric vehicles. While this shift presents challenges, there are strategies...

Report: The 2024 State of Heavy-Duty Repair

From capitalizing on the latest revenue trends to implementing strategic financial planning—this report serves as a roadmap for navigating the challenges and opportunities of ...