Archer-Daniels-Midland Company Class Action Lawsuit - ADM
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The Archer-Daniels-Midland class action lawsuit seeks to represent purchasers or acquirers of Archer-Daniels-Midland Company (NYSE: ADM) common stock between April 30, 2020 and January 22, 2024, inclusive (the “Class Period”). Captioned Chow v. Archer-Daniels-Midland Company, No. 24-cv-00634 (N.D. Ill.), the Archer-Daniels-Midland class action lawsuit charges Archer-Daniels-Midland and certain of Archer-Daniels-Midland’s top current and former executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Archer-Daniels-Midland class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at email@example.com. Lead plaintiff motions for the Archer-Daniels-Midland class action lawsuit must be filed with the court no later than March 25, 2024.
CASE ALLEGATIONS: Archer-Daniels-Midland is an agricultural supply chain manager and multinational food processing and commodities trading company.
The Archer-Daniels-Midland class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Archer-Daniels-Midland’s Nutrition segment’s financial reporting and accounting practices did not provide investors with an accurate impression of Archer-Daniels-Midland’s performance and future prospects, including reported operating profits; and (ii) the Nutrition segment’s accounting practices created a heightened risk of regulatory scrutiny and adverse impacts to Archer-Daniels-Midland’s business.
The Archer-Daniels-Midland class action lawsuit further alleges that on January 21, 2024, Archer-Daniels-Midland announced that it had placed its CFO Vikram Luthar on leave effective immediately “pending an ongoing investigation being conducted by outside counsel for [Archer-Daniels-Midland] and the Board’s Audit Committee regarding certain accounting practices and procedures with respect to [Archer-Daniels-Midland]’s Nutrition segment, including as related to certain intersegment transactions.” According to the complaint, Archer-Daniels-Midland also revealed that its investigation was initiated in response to its receipt of a voluntary document request by the U.S. Securities and Exchange Commission. On this news, the price of Archer-Daniels-Midland common stock fell more than 24%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Archer-Daniels-Midland common stock during the Class Period to seek appointment as lead plaintiff in the Archer-Daniels-Midland class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Archer-Daniels-Midland class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Archer-Daniels-Midland class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Archer-Daniels-Midland class action lawsuit.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.