Hain Celestial Group’s Self-Reporting Avoids SEC Fine

Hain Celestial Group Inc. won’t have to pay an SEC accounting-related fine after settling with the agency over previously undisclosed sales incentives the company self-reported.

Hain, which produces the Celestial Seasonings line of herbal teas, gave distributors sales incentives to promote end-of-quarter sales without telling its finance department, the Securities and Exchange Commission said Dec. 11.

But Hain won’t have to pay a fine because it self-reported its internal accounting control failures and undertook remedial efforts, the agency said.

The organic and natural foods company discovered the incentives, which date back to at least 2014, in May 2016, according to ...