Former AIPC Execs Resolve SEC Fraud Claims

Law360, New York (June 23, 2009, 12:00 AM EDT) -- Two former directors of American Italian Pasta Co. have reached settlements with the U.S. Securities and Exchange Commission over their alleged roles in helping bolster company stock prices by overstating revenue by 66 percent.

The SEC announced Monday that it had filed a settled securities fraud complaint in the U.S. District Court for the Western District of Missouri against the former chair of Kansas City-based AIPC's board of directors, Horst W. Schroeder.

The commission also entered a consent judgment with former AIPC Chief Financial Officer Warren...
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