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Food & Beverage

SEC ending investigation of General Mills

June 14, 2005
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General Mills Inc. said the Securities and Exchange Commission staff is ending its investigation of the foodmaker''s sales practices and related accounting without taking enforcement action, the Associated Press reports. The news is a reversal for the SEC, which had notified General Mills in February 2004 of a preliminary decision to recommend civil action against the company, Chief Executive Steve Sanger and Chief Financial Officer James Lawrence. The company had maintained it did nothing wrong. The company, whose brands include Cheerios and Wheaties cereals, Yoplait yogurt and Pillsbury rolls, never released details of the investigation, which began in 2003.

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