Archer-Daniels-Midland Co. stock dipped 24%, after the agricultural trading company suspended its chief financial officer and cut its earnings outlook pending an investigation into its accounting practices. It said Vikram Luthar, its CFO since 2022, was put on administrative leave. The probe came after a voluntary document request from the US Securities and Exchange Commission focused on what ADM said was “intersegment transactions” involving its nutrition unit, which makes ingredients for human and animal foods. ADM said it’s cooperating with the SEC. ADM strengthened the nutrition business since 2014, when it made a $3 billion buyout of Wild Flavors to diversify from row crop grains and oilseeds intro processed products. Archer Daniels Midland Co. said it’s working with outside counsel and the audit committee of the company board to complete an investigation of accounting practices within its nutrition business and it pulled guidance for the unit.

Jeffrey Newman Esq. and members of his firm represent whistleblowers under the SEC, CFTC and FINCEN whistleblower programs. Persons providing original information to these agencies through counsel may receive rewards totaling up to 30 percent of a successful recovery made by the SEC, CFTC OR FINCEN and the names and identification of the whistleblowers are kept confidential. His firm also represents whistleblowers in healthcare fraud cases relating to Medicare of Medicaid. Attorney Newman can be reached at Jeff@Jeffnewmanlaw.com or at 617-823-3217

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