The SEC may bring a civil action regarding the timing of revenue originating from dealings between Kmart and Pepsi and Frito-Lay. Kmart was not available to comment on the investigation, and PepsiCo indicated the possible civil actions involve nonexecutive employees at Pepsi and Frito-Lay. PepsiCo also said the matters under review do not focus on the company's own accounting for the Kmart transactions or PepsiCo financial statements.

Full Story:

Related Summaries