LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz continues its investigation of Archer-Daniels-Midland Company (“ADM” or the “Company”) (NYSE: ADM) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On January 21, 2024, the Company disclosed that the ADM Board of Directors decided to place the Company’s Chief Financial Officer and Senior Vice President, Vikram Luthar, 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.”
On this news, ADM’s stock price fell $16.50, or 24.2%, to close at $51.69 per share on January 22, 2024, thereby injuring investors.
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If you purchased ADM securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com