03:10 PM EDT, 07/16/2024 (MT Newswires) -- Tyson Foods' ( TSN ) John Tyson, suspended from his position as chief financial officer, pleaded not guilty to charges including drunken and careless driving, The Wall Street Journal reported Tuesday.

University of Arkansas police arrested the executive on June 13 and booked him at the Washington County Detention Center, according to the report.

The trial date is set for Aug. 28, the report said, citing the Fayetteville District Court.

The plea, entered Monday, allows Tyson time to negotiate a settlement with the prosecutors, the report said. He is the son of the company's chairman.

Tyson Foods ( TSN ) didn't immediately respond to a request for comment from MT Newswires.

Shares of the company rose 2.4% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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