Dow Chemical Says Reuters Simply Recycles Old Allegations Of Misspending By CEO

(RTTNews) - Responding to Reuters article, Dow Chemical Co. (DOW) said that Reuters has simply recycled old allegations that the company made public long ago and addressed through independent review, enhanced audits, and improved controls. These matters were disclosed in 2011 by the filing of a publicly available proxy statement with the SEC.

"It is our understanding, however, that complaints such as the ones referenced in the article are, as a procedural matter, always forwarded to the SEC," Dow said.

Previously, Reuters reported that the U.S. Securities and Exchange Commission is investigating allegations that Andrew Liveris, chairman and chief executive officer of Dow Chemical Co, misused company funds for personal benefit.

It reported that SEC issued subpoenas for thousands of pages of documents and testimony that were part of a whistleblower-retaliation lawsuit brought last year by a former Dow employee, Kimberly Wood.