Smithfield Lobbyist Admits Chinese Owner's Interest After Complaint

Regulation
โดย PR Newswire·US·Read original
Summary · why it matters

Following a federal complaint filed August 3 by the Center for Responsible Food Business, Smithfield Foods' lobbying firm Greenberg Traurig has amended its second-quarter report to disclose that WH Group, which owns 86.9% of Smithfield, has an interest in lobbying on the Farm Bill and foreign ownership of U.S. agricultural land. The original report, filed July 20, denied any foreign interest, covering $120,000 in lobbying. The amendment came fifteen days after the complaint, but fourteen of the fifteen quarterly reports since 2023 remain uncorrected. CRFB President Taylor Warren criticized the omission, saying it suggests Smithfield never intended to admit its lobbyists represent China.

Impact on stocks 2

Consumer Staples · 2 stocks
Smithfield Foods, Inc. Common Stock
SFD
▼ NegativeRegulationrelevance

Smithfield's lobbying firm amended its disclosure to admit WH Group's interest in Farm Bill and foreign agricultural land lobbying after a federal complaint, exposing a regulatory/lobbying-disclosure problem.

WH Group Ltd
0288
▼ NegativeRegulationrelevance

WH Group, which owns 86.9% of Smithfield, was disclosed as having an interest in lobbying on the Farm Bill and foreign ownership of U.S. agricultural land after the omission drew a complaint.

Off-coverage companies 1

Greenberg TraurigPrivate± Mixed
Regulationrelevance

Greenberg Traurig amended its lobbying report to disclose WH Group's interest only after a federal complaint, but the article does not establish a clear directional impact on the firm.