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ADM'S SHARES PLUNGE IN WAKE OF INVESTIGATION OF ITS CFO
Jan. 23, 2024
Agri-Pulse reports:
Shares in Archer Daniels Midland plunged Monday after the company announced it was replacing its chief financial officer amid questions about accounting practices in the agribusiness giant's nutrition division.
Vikram Luthar has been put on leave as CFO while an investigation is ongoing.
To read ADM's statement click here.
The company said the investigation by outside counsel and the ADM board's audit committee began after the company got a document request from the Securities and Exchange Commission.
ADM shares closed down 24% on Monday.
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