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  "documentTitle": "Resideo Technologies, Inc. (REZI)",
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      "text": "Our First Alert observations are more alarming considering the history of Newell Brands. Both Newell and Michael Polk - President, CEO and Board member - were charged in 2023 with misleading investors in its accounting practices that were inconsistent with GAAP, while overriding its internal accounting controls.",
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      "text": "Given the nature of the SEC's allegations which relate to misleading core / organic sales and premature revenue recognition, we believe REZI shareholders should be concerned by who it acquired the business from.",
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      "text": "Newell made misleading statements related to \"core sales growth\" and \"core sales\"",
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      "text": "Newell engaged in a scheme to prematurely recognize revenue called \"Pick and Holds\"",
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      "text": "Newell also recognized revenue prematurely during the Relevant Period, as a result of employees involved in shipping and transportation in certain divisions sending shipments early to customers without their approval in a practice referred to as \"pick and holds.\"",
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      "text": "Newell engaged in a scheme to prematurely recognize revenue called \"Pick and Holds\" — SEC Litigation Release",
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      "text": "Source: SEC Litigation release and press release, CFO transition, Nov 18, 2018, COO transition Feb 19, 2019, CEO Transition, March 2019.",
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      "text": "First Alert Passed To Newell Brands, Which Settled With The SEC For $12.5M",
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