ADM Faces Class Action Lawsuit Over Accounting Practices

Investors have until late March to join the lawsuit amid allegations of misleading financial statements.

Investors have until March 25, 2024, to file a lead plaintiff motion in the class action lawsuit against Archer-Daniels-Midland Company (ADM).
ADM's CFO and Senior Vice President, Vikram Luthar, was placed on administrative leave due to an investigation into the Nutrition segment's accounting practices.
The investigation concerns certain accounting practices and procedures, including intersegment transactions.
ADM's stock price fell $16.50, or 24.2%, following the announcement of the investigation.
The lawsuit alleges that ADM made materially false and/or misleading statements about its business operations and prospects.