ADM says employees received DOJ subpoenas amid probe over accounting practices
From Yahoo Finance:
Global grains merchant Archer-Daniels-Midland is under investigation by the Department of Justice for accounting practices. Some employees have received subpoenas, causing uncertainty in the high-margin nutrition segment. The company is cooperating with the DOJ, with the investigation covering the period from January 2018 to September 2023. The nutrition division, once seen as the future of ADM, had explosive growth but saw profits decline in late 2022. ADM reported a profit of $6.43 per share for the full year after the investigation delayed financial results. The company is implementing enhancements to internal controls and a new ERP system as part of a remediation plan.
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