Archived Investigations

Archer-Daniels-Midland Co. (NYSE: ADM)

Company Name:Archer-Daniels-Midland
Stock Symbol:NYSE: ADM
Court:Northern District of Illinois
Class Period Start:04/30/2020
Class Period End (inclusive):01/22/2024
Filing Deadline:The deadline has passed.
February 6, 2024

ADM and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On January 21, 2024, the Company disclosed that its Chief Financial Officer had been placed on leave “pending an ongoing investigation being conducted by outside counsel for ADM and the Board’s Audit Committee regarding certain accounting practices and procedures with respect to ADM’s Nutrition segment, including as related to certain intersegment transactions.” Further, its investigation was initiated in response to a voluntary document request by the SEC and as a result, the Company delayed its Q4 and FY 2023 earnings release and withdrew its outlook for its Nutrition segment.

On this news, the price of ADM’s shares fell $16.23 per share, or approximately 24%, from $68.19 per share to close at $51.69 on January 22, 2024, wiping out approximately $8.8 billion of ADM’s market value.

The case is Chow v. Archer-Daniels-Midland Company, et al., No. 24-cv-00634.

Click here to read the first filed complaint.