Reported 20 days ago
Almost ten months post-scandal, Archer-Daniels-Midland Co. continues to grapple with accounting errors, leading to a restatement of financial results and the abrupt cancellation of its earnings call. Despite identified inaccuracies being minor in impact, investor confidence has waned, with the company losing nearly $12 billion in market value this year alone. ADM's latest findings on internal controls raise further concerns about its nutrition unit's profitability as it navigates challenges in crop prices and production demand.
Source: YAHOO