NYC comptroller calls on SEC to investigate Tyson Foods : vi

NYC comptroller calls on SEC to investigate Tyson Foods


Dive Brief:
New York City Comptroller Scott M. Stringer is calling for the U.S. Securities and Exchange Commission to investigate Tyson Foods for making misleading disclosures to investors by "flagrantly misrepresenting its poor pandemic response." Stringer asked for the probe in a letter sent to the SEC Tuesday. 
As comptroller, Stringer is investment advisor and a trustee of the five New York City Retirement Systems, which are substantial long-term Tyson shareholders. He said the company's 10-K form was "misleading and inaccurate" because it didn't assure investors that issues reported earlier this year are "a thing of the past." 
Early on in the pandemic, Tyson and other major meat companies were criticized for waiting too long to implement safety precautions and to close processing plants as thousands tested positive for coronavirus. A Tyson spokesperson said in an email that the company has not yet reviewed Stringer's documentation, but referred to a release that outlined Tyson's protective measures.

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