ADM Enters Settlement With the SEC Without Admitting or Denying Any Wrongdoing DOJ Closes Investigation With No Further Action

ADM has announced that it has entered into a settlement agreement with the U.S. Securities and Exchange Commission (SEC) to resolve its investigation into ADM’s prior reporting regarding intersegment sales without admitting or denying any wrongdoing. Pursuant to the settlement with the SEC, ADM has agreed to a payment of $40 million.

In addition, the Department of Justice (DOJ) has closed its investigation of ADM with no further action. These outcomes end the investigations of ADM by the SEC and DOJ.

As the SEC noted in its resolution, after learning of the matter, ADM acted to ensure that outside counsel conducted an internal investigation under the direction and oversight of ADM’s Audit Committee of the Board of Directors, voluntarily reporting ADM’s findings to the SEC’s staff. In March 2024, ADM corrected certain prior period errors, and in November 2024, ADM restated its previously issued 2023 Form 10-K and Forms 10-Q for the first and second quarters of 2024, in each instance to address errors in its historical segment reporting.

The transactions addressed in the SEC resolution affected segment-level reporting and had no impact on ADM’s reported consolidated balance sheet, earnings or cash flows for the periods presented in the restated filings.

In addition, as previously reported, ADM has implemented significant changes to its financial leadership team and financial controls.

Juan Luciano, Chair of the Board, President and CEO, said, “We are pleased to put these matters behind the Company. These past couple of years have underscored what’s core to ADM – incorporating learnings to further strengthen our business. This is reflected in the extensive actions we have taken to enhance our internal controls and ensure accuracy of our financial reporting. Looking ahead, we remain committed to operating with transparency and integrity and upholding the trust of our stakeholders every day.”

Read more from ADM here.