ADM shares plunge as it investigates accounting, misses profit expectations

Archer Daniels Midland shares plunged in premarket trade on Monday as the agribusiness giant said its chief financial officer has been placed under administrative leave, amid an investigation into accounting practices in its nutrition segment. ADM said CFO Vikram Luther was put on immediate administrative leave following a Securities and Exchange Commission “voluntary” request for documents. The Chicago-based company said outside counsel and the board audit committee are looking at accounting practices a ...