The Securities and Exchange Commission charged Newell Brands and its former CEO, Michael Polk, with misleading investors about Newell’s core sales growth, a non-GAAP, or Generally Accepted Accounting Principles, financial measure the company used to explain its underlying sales trends. Both parties agreed to settle the SEC charges. Without admitting or denying the SEC’s findings, Newell and Polk agreed to cease and desist from violating certain provisions of the securities laws and to pay civil penalties of $12.5M and $110,000, respectively, the SEC announced.
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