PR Newswire
NEW ORLEANS, Nov. 22, 2024 /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF continues its investigation into Archer-Daniels-Midland Company ("ADM" or the "Company") (NYSE: ADM).
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. Subsequently, the Company revised six year of financial statements related to its Nutrition segment. Then, on February 5, 2024, the Company disclosed that the U.S. Department of Justice ("DOJ") initiated a criminal probe into the Company's accounting practices and the DOJ directed grand jury subpoenas to certain current and former employees.
The information provided here is not subject to any editorial processing. It is prepared fully automatically and enriched with additional information and further research options. The aim of the content is to provide information seekers with the relevant information quickly and easily. A link back to the information provider and owner ensures that the data prepared here can be compared with the source information if required. The newsboard does not show information in real time. Please contact the exchange operator for this information if required. There is no claim to completeness. High availability cannot be guaranteed. If you notice any errors in the functionality, please let us know using the "Report a Bug" form below.
RAW DATA PROCESSING means that raw data is processed without changing the content. The data is supplemented to improve the interpretation of the information in terms of usability.
Note: The newswire cross-link panel at the top allows you to quickly and easily access additional sources of information. In the terminal view, the news is filtered at company level and enables targeted searches.
On behalf of the trading community, we would like to thank the operators of the trading venues for providing information services.