![]() He lets others worry about fresh mozzarella balls and pizza that taste like they were made in the old country. The little-known Leprino (he declined to be photographed for this article) rates as one of America's all-time monopolists. In all, Leprino Foods sells more than a billion pounds of cheese a year, to the tune of $3 billion in revenue. But after nearly 60 years running the business and more than a decade on Forbes' list of billionaires, Leprino, worth an estimated $3 billion, is finally willing to be interviewed about how his family's grocery in Denver's Little Italy became the world's top producer of pizza cheese-the slightly derisive term competitors use to describe its mozzarella. There isn't a single image of Leprino on his company's website. Leprino has somehow eluded photographers for decades: A Google search picks up photos of fellow Colorado billionaire Philip Anschutz and cosmetics heir Ronald Lauder. Indeed he does, to a nearly unprecedented degree, given the way he dominates his industry. After an hour, the plastic shot glasses appear for sampling the company's lactose and whey powders, which end up in protein bars, Yoplait yogurt, Pillsbury Toaster Strudel and baby formula consumed by millions of infants annually. Team Leprino next brings out dessert: salted-caramel-flavored mozzarella wrapped in hot dough, rolled in cinnamon sugar. Then come the cheese cubes marketed as snack pairings: pear flavor with nuts or Gorgonzola with pretzels. Another course features frozen food made with Leprino products, including ham-and-cheddar Hot Pockets, Stouffer's lasagna and Smart Ones baked ziti. Then come flavored cheeses made with a mozzarella base, as well as provolone, cheddar and Monterey Jack.Ĭooks bring out a take-and-bake pizza, a New York-style pie and a stuffed crust, fresh from nearly a dozen ovens. ![]() First, thin wisps of low-moisture mozzarella, then a diced alternative, followed by an "artisanal" version, cut short and wide. The SEC appreciates the assistance of the Financial Industry Regulatory Authority in this matter.AN AVALANCHE OF CHEESE pours into the test kitchen at the Denver headquarters of Leprino Foods, the mozzarella supplier to Pizza Hut, Domino's and Papa John's. ![]() Kasper, Regional Trial Counsel of the SEC’s Denver Regional Office. Voorhees of the SEC’s Market Abuse Unit, with assistance from Gregory A. ![]() Scoggins, Darren Boerner, and Danielle R. The SEC’s investigation was conducted by Jay A. Compton further agreed to be suspended from appearing and practicing before the SEC as an accountant, which includes not participating in the financial reporting or audits of public companies. Without admitting or denying the allegations, Compton consented to the court’s order issued April 19 that permanently enjoins him from violating these provisions and orders him to pay a civil penalty of $1,921,394. "Using innovative analytical tools, SEC staff exposed the defendant’s repeated misuse of this inside information and are now holding him accountable."Īccording to the SEC’s complaint, Compton violated the antifraud provisions of Section 10(b) of the Securities and Exchange Act of 1934 and Rule 10b-5 thereunder. ![]() Sansone, Chief of the SEC’s Market Abuse Unit. "The SEC investigation uncovered that Compton allegedly accessed and reviewed Domino’s confidential data to prepare financial performance reports for senior management," said Joseph G. The SEC further alleged that Compton spread these trades across seven different brokerage accounts belonging to himself and various members of his family, which led to illicit profits of more than $960,000. Compton used confidential financial data he obtained through his role as an accountant at the corporate office of Domino’s to trade ahead of 12 of the company’s earnings announcements between 20. District Court for the Eastern District of Michigan, alleged that Bernard L. to pay a penalty of nearly $2 million for insider trading in the company’s stock. The Securities and Exchange Commission today announced a court-approved settlement requiring a Michigan-based former accountant at Domino’s Pizza Inc. ![]()
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