Tyson Foods, Inc. - Ordinary Shares - Class A

NYSE:TSN  
80.32
-0.24 (-0.30%)
Accounting Issues/SEC Inquiries, Other Pre-Announcement

Tyson Foods Undertaking An Internal Review Relating To One Of Its Cattle Suppliers

Published: 12/21/2020 23:52 GMT
Tyson Foods, Inc. - Ordinary Shares - Class A (TSN) - Tyson Foods Inc - Undertaking an Internal Review Relating to One of Its Cattle Suppliers.
Tyson Foods Inc - Determined That This Supplier Made Misrepresentations Regarding Number of Cattle Supplier Purchased on Behalf of Co's Beef Segment.
Tyson Foods - Estimates Misappropriation of Funds by Supplier Caused Co to Overstate Live Cattle Inventory As of Fiscal Year Ended Oct 3, by $285 Million.
Tyson Foods Inc - Management Believes That Resulting Loss to Co is Isolated to Beef Segment and is Attributable to One Cattle Supplier.
Tyson Foods - Believes Errors in Live Cattle Inventory Did Not Result in Material Misstatement of Previously Issued Consolidated Financial Statements.
Tyson Foods - Believes Previously Issued Annual Or Interim Consolidated Financial Statements May Continue to Be Relied Upon.
Tyson Foods Inc - Management & Its Outside Advisors Re-evaluated Effectiveness of Co's Internal Control Over Financial Reporting.
Tyson Foods - Identified Material Weakness in Internal Control Over Financial Reporting Relating to Physical Existence of Live Cattle Inventory.
Tyson Foods Inc - Initiated an Investigation by Outside Advisors to Review Facts and Circumstances Surrounding Misappropriation of Company Funds.
Tyson Foods Inc - Investigation Has Found No Evidence That Company Benefited From Supplier's Unlawful Conduct.