Mead Johnson Announces Settlement with U.S. Securities and Exchange Commission

GLENVIEW, Ill.--(BUSINESS WIRE)--Mead Johnson Nutrition Company (NYSE: MJN) announced today that it has entered into a settlement agreement with the U.S. Securities and Exchange Commission (“SEC”) fully resolving the SEC’s investigation of certain of Mead Johnson’s promotional practices in China during the period 2008-2013. The investigation was first disclosed by Mead Johnson in 2013. Under the terms of the settlement agreement, Mead Johnson has agreed to disgorgement, as well as the payment of pre-judgment interest and a penalty, resulting in an aggregate payment of US$12,030,000. This payment is in line with the expense provision the company took related to the SEC investigation within its first quarter, 2015, as disclosed in its form 10-Q.