Health Food Co. NutraCea, Execs Settle Fraud Suit

Law360, New York (January 14, 2011, 12:25 PM EST) -- Health food company NutraCea Inc. and four former executives have settled U.S. Securities and Exchange Commission claims that they falsely boosted the company's 2007 sales figures by 37 percent, though a former chief financial officer still faces allegations.

According to a complaint filed Thursday in the U.S. District Court for the District of Arizona, the former executives disguised the Arizona company's true operating results for its 2007 annual report as well as the second and third quarters of that year by booking false sales and improperly...
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