Berman Tabacco Announces Investigation of Archer-Daniels-Midland Company (ADM) for Potential Securities Law Violations Concerning Accounting Practices
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BOSTON--(BUSINESS WIRE)--
Berman Tabacco, a national law firm representing investors, is investigating potential securities law violations by Archer-Daniels-Midland Company (“ADM” or the “Company”) (NYSE: ADM).
About the Investigation
On January 22, 2024, ADM filed a Form 8-K with the U.S. Securities and Exchange Commission disclosing that “the Board of Directors of the Company (the ‘Board’) has appointed Ismael Roig to serve as the Company’s Interim Chief Financial Officer. The appointment follows the decision of the Board on January 19, 2024 to place Vikram Luthar, the Company’s Chief Financial Officer and Senior Vice President, on administrative leave, effective immediately.” According to the Form 8-K, “Mr. Luthar’s leave is pending an ongoing investigation being conducted by outside counsel for the Company and the Board’s Audit Committee regarding certain accounting practices and procedures with respect to the Company’s Nutrition reporting segment, including as related to certain intersegment transactions.”
On February 5, 2024, Bloomberg reported that “[t]he US Attorney’s Office in Manhattan has launched an investigation into the accounting practices at Archer-Daniels-Midland Co., according to people with direct knowledge of the matter.” According to the report, “[t]he probe is focused on the company’s nutrition business, said the people, who asked not to be named discussing confidential information.”
Contact
If you have information concerning this investigation, please contact us here: Contact | Berman Tabacco
About Berman Tabacco
Since 1982, our firm has prosecuted hundreds of securities and antitrust complex cases. The firm and its attorneys have been recognized for their work on behalf of plaintiffs, including by Chambers USA, Benchmark Litigation, which has ranked the firm as Highly Recommended and a Top Ten Plaintiffs, The Legal 500, U.S. News & World Report-Best Lawyers, The Daily Journal, Lawdragon, Who's Who Legal, and Super Lawyers.
The firm has offices in Boston, Massachusetts and San Francisco, California.
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