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ConAgra Settles SEC Charges For $45 Million

Law360 (July 25, 2007, 12:00 AM EDT) -- ConAgra Foods Inc. on Wednesday agreed to pay $45 million to settle a U.S. Securities and Exchange Commission suit alleging that the food giant engaged in improper, and in certain instances fraudulent, accounting practices.

The company's settlement comes three weeks after six former ConAgra executives reached a similar deal with the SEC, agreeing to pay more than $1.7 million total in civil penalties.

The SEC said that the suits were brought after alleged accounting practices, inaccurate disclosures and income taxes for fiscal years 1999 to 2005...
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