PITTSBURGH, PA / ACCESSWIRE / February 26, 2024 / Law Office of Alfred G. Yates, Jr., P.C. announces that it is investigating Archer-Daniels-Midland Company (NYSE:ADM) ("ADM" or the "Company") on behalf of ADM investors.
On January 21, 2024, ADM disclosed that it had placed "Vikram Luthar, Chief Financial Officer and Senior Vice President, on administrative leave, effective immediately." The Company further disclosed that "Mr. Luthar's leave is 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 reporting segment, including as related to certain intersegment transactions. ADM's investigation was initiated in response to its receipt of a voluntary document request by the U.S. Securities and Exchange Commission (SEC)."
Following this news, shares of ADM's stock declined over $15.00 per share, or over 20% in value, during intraday trading on January 22, 2024, erasing over three years of increased market value for the Company's shares and billions of dollars of market capitalization.
ADM shareholders are encouraged to contact attorney Alfred G. Yates Jr. by phone toll free at 1-844-391-5164 or by email at info@yatesclassactionlaw.com.
CONTACT:
Alfred G. Yates Jr., Esquire
Law Office of Alfred G. Yates Jr. PC
(412) 391-5164
1-844-391-5164
yatesclassactionlaw.com
Email: info@yatesclassactionlaw.com
This notice may constitute attorney advertising in certain jurisdictions.
SOURCE: Law Office of Alfred G. Yates Jr., P.C.
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