Pyxus International controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile2 entries
2015
Kenyan subsidiary accounting and internal-control violations
After a management restructuring at the Kenyan subsidiary, Pyxus identified fictitious sales and an aggregate $39 million overstatement of inventory, receivables, and other assets. The findings involved material weaknesses and management override of controls and led to an SEC administrative proceeding concerning filing and record-keeping requirements.
2010
Bribery and Foreign Corrupt Practices Act violations
Alliance One pleaded guilty to bribery-related and ancillary Foreign Corrupt Practices Act violations arising from improper payments made through subsidiaries of Dimon and Standard Commercial before their merger. The conduct included approximately $1.9 million in payments to officials of the Tobacco Authority of Thailand and improper payments in Kyrgyzstan to tobacco-control, local-government, and tax officials. The company agreed to $9.5 million in criminal penalties, three years of independent monitoring, and a parallel SEC settlement involving $10 million in disgorgement.