Food company bio Heinz has revealed it received a subpoena last year from the US Securities and Exchange Commission looking at " agreements , side effects , and changes or modifications " to vendor deals and a misdeclared $ 25 m payment . The announcement came as Kraft foods reported a $ 15.4bn loss resulting from a consumer switch from processed foods to fresh foods , and prompted the company 's share price to slide by more than one fifth . In addition , some analysts questioned whether the firm 's cost - cutting drive had gone too far .
Food company Kraft Heinz has revealed it received a subpoena last year from the US Securities and Exchange Commission looking at "agreements, side agreements, and changes or modifications" to vendor deals and a misdeclared $25m payment. The announcement came as Kraft Heinz reported a $15.4bn writedown resulting from a consumer switch from processed products to fresh foods, and prompted the company's share price to slide by more than one fifth. In addition, some analysts questioned whether the firm's cost-cutting drive had gone too far.