Berman Tabacco Announces Investigation of Archer-Daniels-Midland Company (ADM) for Potential Securities Law Violations Concerning Accounting Practices
February 05 2024 - 2:35PM
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.
This notice may constitute attorney advertising.
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Berman Tabacco One Liberty Square Boston, Massachusetts Email:
law@bermantabacco.com
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