Feds probing Tyson board perks
(March 29, 2004) — (Springdale-AP) -- Springdale-based Tyson Foods, the world's largest meat producer, says the Securities and Exchange Commission is investigating benefits received by some board members and company officers. Tyson released a statement saying the S-E-C is "seeking information primarily with respect to the disclosure of perquisites provided to certain directors and officers of the company." The statement noted that former senior company chairman Don Tyson and present chairman and chief executive John Tyson sit on the board. Tyson spokesman Ed Nicholson said today he could not elaborate on the company's statement. Tyson says it is fully cooperating with the S-E-C probe. The company said the board's independent members reviewed the issue and "does not believe that the amounts involved are material to the company's financial position or results of operations." But, the statement noted that Tyson cannot predict action that regulators might take.