(Reuters) -Global grains merchant Archer-Daniels-Midland said on Tuesday some of its employees have received subpoenas from the Department of Justice amid an ongoing investigation over its accounting practices.
The disclosure came as ADM reported a lower-than-expected fourth-quarter profit as oilseed processing and crop origination margins fell and as the company's Nutrition unit, the subject of the investigation, posted a quarterly loss.
ADM said some sales between business units within the company were not recorded at amounts approximating market value and corrected certain segment-specific financial information for previous financial statements from 2018 to 2023.
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