ARCHER-DANIELS-MIDLAND INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Archer-Daniels-Midland Company - ADM
ARCHER-DANIELS-MIDLAND INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Archer-Daniels-Midland Company - ADM
PR Newswire
NEW ORLEANS, May 10, 2024
NEW ORLEANS, May 10, 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 has commenced an 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.
KSF's investigation is focusing on whether ADM's officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of ADM shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit us at https://www.ksfcounsel.com/cases/nyse-adm/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
View original content to download multimedia:https://www.prnewswire.com/news-releases/archer-daniels-midland-investigation-initiated-by-former-louisiana-attorney-general-kahn-swick--foti-llc-investigates-the-officers-and-directors-of-archer-daniels-midland-company---adm-302142569.html
SOURCE Kahn Swick & Foti, LLC
-
These Stocks Are (Still) Powering the Bull Market
-
5 Undervalued Energy Stocks to Play the AI Data Center Demand Boom
-
After Earnings, Is Lowe’s Stock a Buy, Sell, or Fairly Valued?
-
5 Stocks With the Largest Fair Value Estimate Cuts After Q1 Earnings
-
10 Stocks With the Largest Fair Value Estimate Increases After Q1 Earnings
-
Markets Brief: Inflation Back in the Spotlight
-
AI Is Booming, but Consumer Spending Is Slowing. Which Will Prevail in the Stock Market?
-
What’s Happening In the Markets This Week
-
3 Dividend Stocks for June 2024
-
After Earnings, Is Alibaba Stock a Buy, Sell, or Fairly Valued?
-
MongoDB Earnings: Slashing Valuation as Execution and Macro to Blame for Lower Guidance
-
Marvell Earnings: We Raise Our Medium-Term AI Forecast and Bring Our Valuation Up to $75
-
Zscaler Earnings: Impressive Traction in Emerging Products Drives Sales Growth for the Quarter
-
Dell Earnings: Raising Valuation on Strong AI, but the Stock Remains Severely Overvalued
-
After Earnings, Is Nvidia Stock a Buy, Sell, or Fairly Valued?
-
The 10 Best Companies to Invest in Now