Whistle­blower paid


A for­mer Mon­santo Co. fi­nan­cial ex­ec­u­tive who tipped off reg­u­la­tors about the agribusi­ness gi­ant’s ac­count­ing prac­tices in­volv­ing re­bates for its Roundup weed-killer will get nearly $22.5 mil­lion as a whistle­blower, fed­eral se­cu­ri­ties reg­u­la­tors said Tues­day. The Se­cu­ri­ties and Ex­change Com­mis­sion said the pay­out comes out of the $80 mil­lion penalty the St. Louis-based com­pany agreed to pay un­der a Fe­bru­ary set­tle­ment with the agency. Tues­day’s award is the sec­ond-big­gest the SEC has given a whistle­blower since a $30 mil­lion pay­out in 2014. Mon­santo’s Fe­bru­ary agree­ment re­solved al­le­ga­tions that it mis­stated its earn­ings by not prop­erly ac­count­ing for mil­lions of dol­lars paid to dis­trib­u­tors as Roundup re­bates, which had the ef­fect of dis­tort­ing the com­pany’s earn­ings re­ports for 2009, 2010 and 2011.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.