Colorado-based healthy beverage company reveals DOJ and SEC investigations into possible FCPA violations

In an August 9, 2021 securities filing, NewAge, Inc., a Colorado-based nutritional supplements, healthy beverage and organic products company, revealed that it had made a voluntary self-disclosure to the US Department of Justice and the Securities and Exchange Commission in August 2021 related to possible violations of the Foreign Corrupt Practices Act.  

According to its Form 10-Q, NewAge launched an independent investigation in December 2020 into the “international business practices” of Ariix, a nutritional supplements and cosmetics direct selling company that NewAge acquired in 2020.  That investigation identified potential FCPA violations, which NewAge then disclosed to the DOJ and the SEC.  NewAge stated that its investigation is “substantially complete” and that it intends to fully cooperate with the DOJ and SEC investigations.  The company also reported that it has taken steps to improve its compliance program by implementing “targeted, enhanced controls and additional training and other remediation.” 

Form 10-Q

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