US: Coke subpoenaed following investigation
Coca Cola has received subpoenas from an Atlanta grand jury, the company announced last week.
On Friday, Coke issued a regulatory filing announcing the news. The subpoenas are a result of an ongoing investigation by the Securities and Exchange Commission (SEC) into accusations made by a former employee, Matthew Whitley, who accused the company last year of inflating earnings.
The company also said that it has provided documents and materials regarding the case to the attorney's office as part of an informal request.
In May last year, Whitley filed a lawsuit against Coke, alleging that he was laid off for being a "whistleblower." Whitley has since withdrawn the suit after settling with Coke, but the SEC and Atlanta's US Attorney have been investigating the claims.
Coke has denied the wrongdoings.
Sectors: Soft drinks
- What Brexit means for drinks industry? - Analysis
- Is there a future for the global beer brand?
- What does Brexit mean for AB InBev's SAB deal?
- Can fruit cider survive UK slowdown? - Focus
- Non-Scotch Whisky Essentials, Part II
- The UK Referendum - just-drinks Live Blog
- Aldi dealt alcohol sales blow in Australia
- Maxxium eyes US$1.4bn opportunity in UK spirits
- Ex-William Grant CEO Stella David re-joins Bacardi
- UK spirits producers braced for Brexit impact
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Spirits and Wine: Corporate Overview
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends