Action against Respondent, a dairy foods producer, for alleged failure to implement and maintain sufficient Internal Control Financial Reporting (“ICFR”).  According to the SEC, Respondent’s Forms 10-K disclosed recurring material weaknesses related to its financial statements and reporting over a period of nine years but did not sufficiently address those weaknesses.  The SEC also alleges that Respondent failed to perform an ICFR evaluation and assessment for two consecutive years and that Respondent had restated its financials due to accounting issues three times since fiscal year 2012.  Respondent has agreed to pay a civil penalty of $100,000.

SEC Order

SEC Press Release