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See Note 15 of the Notes to our Unaudited Condensed Consolidated Financial Statements for more information related to commitments and contingencies, which is incorporated herein by reference.
−Removed: The Staff of the SEC (the “Staff”) has been investigating certain statements by the Company in its prior Exchange Act reports regarding the recyclability of our K-Cup pods.
−Removed: We have been cooperating with this investigation and have now reached what we believe to be an agreement in principle with the Staff to resolve the matter.
−Removed: This agreement is subject to finalizing documentation and must be approved by the SEC.
−Removed: If approved, this agreement, which includes a $1.5 million penalty, would not have a material impact on the Company.
+Added: On September 10, 2024, the SEC approved a settlement to resolve an investigation, which we previously disclosed, of certain statements in our prior Exchange Act reports regarding the recyclability of our K-Cup pods.
+Added: To settle the SEC’s charges, and without admitting or denying the SEC’s findings, the Company paid a civil penalty of $1.5 million.
There have been no material changes from the risk factors set forth in Part I, Item 1A in our Annual Report.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.