Former Pasta Execs Settle Fraud Accusations

Law360, New York (September 15, 2008, 12:00 AM EDT) -- Two former executives of American Italian Pasta Company have each pled guilty to one count of conspiracy to commit wire fraud in connection with an alleged scheme to mislead the investing public about the growth of the company's earnings and to artificially increase the company's stock price.

Former President and CEO Timothy S. Webster and former CFO Warren B. Schmidgall each pled guilty Monday in the U.S. District Court for the Western District of Missouri. The Kansas City, Mo.-based company also said it would pay a...
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