If you invested in Archer Daniels and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses »

CLASS PERIOD
04/30/2020 - 01/22/2024

LEAD PLAINTIFF DEADLINE
03/25/2024

RELATED DOCUMENTS
Complaint 01/24/24

STOCK SYMBOL
NYSE: ADM

CONTACT
844-916-0895
ADM@hbsslaw.com

The litigation focuses on Archer Daniels’ statements about the performance of its Nutrition segment, a business the company poured billions of dollars into to protect against commodity price volatility in its legacy agricultural commodities trading business.

The complaint alleges Archer Daniels made misleading statements and concealed that: (1) the Nutrition segment's financial reporting and accounting practices did not provide investors with an accurate impression of the company’s performance and future prospects, including reported operating profits; (2) the Nutrition segment’s accounting practices created a heightened risk of regulatory scrutiny and adverse impacts to the company’s business; and (3) based on the foregoing, the defendants lacked a reasonable basis for their positive statements about the Nutrition segment and related financial results, growth, and prospects.

Investors began to learn the truth on Jan. 21, 2024, when Archer Daniels announced that it had placed CFO Vikram Luther on leave effective immediately. The company said that Luther’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 segment, including as related to certain intersegment transactions.” 

Archer Daniels also revealed that its investigation was initiated in response to its receipt of a voluntary document request by the SEC.

The company further stated that it is delaying its Q4 and FY 2023 earnings release and withdrew its outlook for the Nutrition segment.

This news sent the price of Archer Daniels shares crashing as much as $14.46 (or about 21%) lower during intraday trading on Jan. 22, 2024.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the ADM securities class-action case about?

The litigation focuses on Archer Daniels’ statements about the performance of its Nutrition segment, a business the company poured billions of dollars into to protect against commodity price volatility in its legacy agricultural commodities trading business.

WHAT SHOULD I DO?

I worked at ADM. What should I do?

If you were an employee of ADM, you may have valuable information that could be relevant to the investigation. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Reed Kathrein at 844-916-0895 or ADM@hbsslaw.com.

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action investigations and lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions.

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICPATE?

Am I affected? What do I need to do to participate?

If you were an investor in ADM, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any ADM investor participate?

In most class-action investigations and cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This investigation only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.

Media Images
Image

Hagens Berman purchases advertisements on search engines, social media sites and other websites. Transmission of the information contained or available through this website is not intended to create, and receipt does not constitute, an attorney-client relationship. If you seek legal advice or representation by Hagens Berman, you must first enter a formal agreement. All information contained in any transmission is confidential and Hagens Berman agrees to protect information against unauthorized use, publication or disclosure. This site is regulated by the Washington Rules of Professional Conduct.