Lawsuit filed for Investors in shares of Archer-Daniels-Midland Company (NYSE: ADM)

An investor, who purchased shares of Archer-Daniels-Midland Company (NYSE: ADM), filed a lawsuit over alleged violations of Federal Securities Laws by Archer-Daniels-Midland Company in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Archer-Daniels-Midland Company (NYSE: ADM) have certain options and for certain investors are short and strict deadlines running. Deadline: March 25, 2024. NYSE: ADM investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Chicago, IL based Archer-Daniels-Midland Company procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally. On January 22, 2024, Archer-Daniels-Midland Company placed CFO Vikram Luthar on administrative leave in response to an investigation into accounting practices in its nutrition segment. Archer-Daniels-Midland Company said it will delay publishing its Q4 and FY 2023 results and has withdrawn all forward guidance on the nutrition segment.

Shares of Archer-Daniels-Midland Company (NYSE: ADM) declined from over $87 per share on August 2023 to as low as $50.72 per share on January 25, 2024.

The plaintiff claims that between April 30, 2020 and January 22, 2024, the Defendants made false and/or misleading statements, as well as failed to disclose material facts, about the performance and prospects of Archer-Daniels-Midland Company's Nutrition segment and its accounting practices, and that the Defendants made positive statements about the Nutrition segment as a future profit-driver for the Company, with the ability to capitalize on healthier eating trends and rising consumer demand for natural ingredients and flavoring. Defendants also created the impression that the Nutrition segment's growth would provide more diversification and earnings stability for Archer-Daniels-Midland Company.
The plaintiff claims that unbeknownst to investors, however, the Nutrition segment's ostensibly impressive growth was inaccurate and subject to improper accounting practices, and Defendants also downplayed the segment's eventual decline in 2023, that as Archer-Daniels-Midland Company was aggressively acquiring companies to expand its capabilities in Nutrition, investors were under the impression that the segment was growing rapidly, that as alleged, Defendants' accounting practices for the segment misrepresented its true financial results and prospects, including its operating profits ("OP"), that between April 30, 2020 and January 22, 2024, the defendants were incentivized to create the appearance of a diversified business by inflating the performance of the Nutrition segment, and the Individual Defendants were further incentivized by stock awards that were directly tied to the performance of the Nutrition segment from 2020 to 2022, and that as a result, Archer-Daniels-Midland Company's business and prospects were much worse than represented by Defendants, causing the price of Archer-Daniels-Midland Company common stock to trade at artificially inflated levels between April 30, 2020 and January 22, 2024.

Those who purchased shares of Archer-Daniels-Midland Company (NYSE: ADM) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.