The multinational soft drink company will pay a $1.5 million settlement, but it isn't admitting or denying the agency's claims.
Keurig Dr Pepper has agreed to pay a $1.5 million civil penalty to settle charges that it made inaccurate recyclability claims about its K-Cup single-use coffee pods, the Securities and Exchange Commission announced Tuesday. In annual reports for fiscal years 2019 and 2020, Keurig failed to disclose 'significant concerns expressed' by two of the largest U.S. recycling companies 'regarding the commercial feasibility of curbside recycling of K-Cup pods,' the SEC says in its ruling.
'According to the SEC's order, 'sales of K-Cup pods comprised a significant percentage of net sales of Keurig's coffee systems business segment,' in fiscal year 2019. Research by a Keurig subsidiary found that 'environmental concerns were a significant factor that certain consumers considered, among others, when deciding whether to purchase a Keurig brewing system,' the Federal agency claims.
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