Archer-Daniels-Midland to Pay $40M to Settle SEC Claims of Performance Inflation

Dow Jones01-28

By Katherine Hamilton

The Securities and Exchange Commission settled charges against Archer-Daniels-Midland and its former executives in a case claiming they inflated the company's performance.

The regulator said Tuesday that ADM agreed to pay $40 million in a civil penalty to settle the claims.

Former executive Vince Macciocchi agreed to pay disgorgement and prejudgment interest and a civil penalty totaling around $530,000. Another former executive, Ray Young, agreed to pay $650,610 in interest and civil penalties.

The SEC claimed that former executive Vikram Luthar directed "adjustments" to transactions between ADM's nutrition segment and its other business segments when the nutrition business was falling short of its financial targets in 2021 and 2022.

The adjustments included retroactive rebates and price changes, the SEC claimed.

The settled order finds that Macciocchi and Luthar led efforts to find and structure adjustments, and that Young negligently approved adjustments.

In response to the SEC's claims, ADM launched an internal investigation, the findings of which it voluntarily reported to staff. It also implemented new internal accounting controls and amended policies and procedures.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

January 27, 2026 18:42 ET (23:42 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Another former executive, Ray Young, agreed to pay $650,610 in interest and civil penalties. \n\n\n  The SEC claimed that former executive Vikram Luthar directed \"adjustments\" to transactions between ADM's nutrition segment and its other business segments when the nutrition business was falling short of its financial targets in 2021 and 2022. \n\n\n  The adjustments included retroactive rebates and price changes, the SEC claimed. \n\n\n  The settled order finds that Macciocchi and Luthar led efforts to find and structure adjustments, and that Young negligently approved adjustments. \n\n\n  In response to the SEC's claims, ADM launched an internal investigation, the findings of which it voluntarily reported to staff. 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