Shares of Kraft Heinz Co. (KHC) plunged by more than 17% in after-hours trading Thursday after it said it got a subpoena in October from the U.S. Securities and Exchange Commission and reporting earnings that missed expectations and a reduced dividend.
Kraft Heinz had earlier closed down slightly -- by .17% -- to $48.18 on Thursday.
But in a filing posted later, the company -- known for its ketchup and other foods and condiments -- included in an earnings report that it had received a subpoena in October "associated with an investigation into" its accounting policies, procedures and internal controls related to its "procurement function."
This includes "agreements, side agreements, and changes or modifications to its agreements with its vendors," said Kraft.
This story has been updated.