- The Washington Times - Monday, March 29, 2004

SPRINGDALE, Ark. (AP) — Tyson Foods Inc., the world’s largest meat producer, said yesterday regulators were conducting a formal investigation of benefits received by some board members and company officers.

The Securities and Exchange Commission (SEC) was “seeking information primarily with respect to the disclosure of perquisites provided to certain directors and officers of the company,” including former senior Chairman Don Tyson and current Chairman and Chief Executive Officer John Tyson, Springdale, Ark.-based Tyson Foods said in a statement.

The company said it was cooperating with the SEC probe fully.

Tyson noted in its annual proxy statement that it regularly engages in transactions with company officials and board members. The filing goes on to list millions of dollars in business the company does with Tyson officials, including farm operations, an aircraft-lease agreement with Tyson family members and a $5.35 million wastewater-treatment agreement with an entity in which Don Tyson is a principal.

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