INVESTOR ALERT
Archer-Daniels-Midland Company (NYSE: ADM)
DISCUSS YOUR OPTIONS WITH A PROFESSIONAL. ONLY 1 DAYS REMAIN TO SEEK APPOINTMENT AS LEAD PLAINTIFF
If you purchased or otherwise acquired publicly traded Archer-Daniels-Midland Company (NYSE: ADM) securities between April 30, 2020, and January 22, 2024, and suffered substantial losses-and you wish to explore your options or serve as lead plaintiff in this lawsuit-we encourage you to contact a lawyer today.
ADM investors have until March 25, 2024 to petition the Court and seek appointment as lead plaintiff in the case.
Archer-Daniels-Midland Company (NYSE: ADM) Faces Class Action Lawsuit Under The Securities Exchange Act Of 1934.
The ADM lawsuit is for individuals and entities who bought or acquired ADM common stock between April 30, 2020, and January 22, 2024, and brings claims against ADM and certain current and former top executives.
ADM has three main business segments operating in the agricultural supply chain management and processing industry: Ag Services and Oilseeds, Carbohydrate AND Nutrition Solutions.
The Nutrition segment is engaged in the manufacturing, sale, and distribution of a range of ingredients and solutions, including plant-based proteins, natural flavors, flavor systems, natural colors, emulsifiers, and other specialty food and feed ingredients.
The lawsuit alleges that over the past decade, ADM has spent billions of dollars trying to expand its Nutrition business to protect against commodity price volatility in its legacy agricultural commodities trading business. It is also alleged that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material facts, about the performance and prospects of ADM's Nutrition segment and its accounting practices. Specifically, 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 company. 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. As ADM was aggressively acquiring companies to expand its capabilities in Nutrition, investors were under the impression that the segment was growing rapidly.
What Other Specific Accusations Are Defendants In The Case Facing?
While presenting the Nutrition segment as a source of diversification and earnings stability, the defendants allegedly concealed inaccurate growth information and downplayed the segment's decline in 2023.
The lawsuit contends that the defendants' accounting practices misrepresented the Nutrition segment's actual financial results and prospects, causing ADM's common stock to trade artificially inflated levels during the Class Period.
On January 21, 2024, ADM announced the company's action of placing its CFO Vikram Luther on immediate leave pending an investigation into certain accounting practices and procedures related to the Nutrition segment.
The investigation, prompted by a voluntary document request from the SEC, led to ADM delaying its Q4 and FY 2023 earnings release and withdrawing its Nutrition segment outlook.
Subsequently, ADM's common stock price declined by approximately 24%, wiping out approximately $8.8 billion of the company's market value.
ADM investors have until March 25, 2024, to seek appointment as lead plaintiff in the case.
Only 1 Days Remain to Seek Appointment as Lead Plaintiff!
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Archer-Daniels-Midland Company (NYSE: ADM) Faces Class Action Lawsuit Under The Securities Exchange Act Of 1934.
The ADM lawsuit is for individuals and entities who bought or acquired ADM common stock between April 30, 2020, and January 22, 2024, and brings claims against ADM and certain current and former top executives.
ADM has three main business segments operating in the agricultural supply chain management and processing industry: Ag Services and Oilseeds, Carbohydrate AND Nutrition Solutions.
The Nutrition segment is engaged in the manufacturing, sale, and distribution of a range of ingredients and solutions, including plant-based proteins, natural flavors, flavor systems, natural colors, emulsifiers, and other specialty food and feed ingredients.
The lawsuit alleges that over the past decade, ADM has spent billions of dollars trying to expand its Nutrition business to protect against commodity price volatility in its legacy agricultural commodities trading business. It is also alleged that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material facts, about the performance and prospects of ADM's Nutrition segment and its accounting practices. Specifically, 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 company. 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. As ADM was aggressively acquiring companies to expand its capabilities in Nutrition, investors were under the impression that the segment was growing rapidly.
What Other Specific Accusations Are Defendants In The Case Facing?
While presenting the Nutrition segment as a source of diversification and earnings stability, the defendants allegedly concealed inaccurate growth information and downplayed the segment's decline in 2023.
The lawsuit contends that the defendants' accounting practices misrepresented the Nutrition segment's actual financial results and prospects, causing ADM's common stock to trade artificially inflated levels during the Class Period.
On January 21, 2024, ADM announced the company's action of placing its CFO Vikram Luther on immediate leave pending an investigation into certain accounting practices and procedures related to the Nutrition segment.
The investigation, prompted by a voluntary document request from the SEC, led to ADM delaying its Q4 and FY 2023 earnings release and withdrawing its Nutrition segment outlook.
Subsequently, ADM's common stock price declined by approximately 24%, wiping out approximately $8.8 billion of the company's market value.
ADM investors have until March 25, 2024, to seek appointment as lead plaintiff in the case.
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