ADM Faces Ongoing Accounting Challenges, Stock Plummets
Originally Published 1 year ago — by Yahoo Finance
Archer-Daniels-Midland Co. (ADM) continues to grapple with accounting issues nearly 10 months after a scandal emerged, leading to further financial restatements for 2023 and 2024. Despite the company claiming no material impact on consolidated earnings, the scandal has significantly affected investor confidence, erasing $12 billion in market value and prompting investigations by the Department of Justice and SEC. ADM's internal controls over financial reporting remain under scrutiny, with the company working to implement new controls by year-end.