Georgia-based consumer products company Newell Brands Inc. (NASDAQ:NWL) has been charged by the U.S. Securities and Exchange Commission for misleading investors about its core sales growth.

This allowed the company to announce "strong" or "solid" results in quarters it internally described as disappointing due to shortfalls in sales.

According to the order, Newell pulled sales forward into earlier quarters without adequate disclosure and engaged in accounting practices inconsistent with GAAP while overriding its internal accounting controls.

"Senior executives of public companies hold positions of trust, and they risk abusing the duties attendant to their offices when they reach into a company's accounting control processes as a way of making up for performance shortfalls," Cave added.

Without admitting or denying the SEC's findings, Newell and Polk agreed to pay civil penalties of $12.5 million and $110,000, respectively.

Price Action: NWL shares are trading higher by 4.43% to $9.09 on the last check Friday.