SEC v. Vikram Luthar

Vikram Luthar allegedly directed improper adjustments to shift operating profit to Nutrition from ADM’s other business segments so that Nutrition would meet the annual operating profit targets that ADM had touted to the investing public. According to the complaint, the adjustments included retroactive rebates and price changes that were not customarily available to ADM’s third-party customers and that were essentially one-sided transfers of operating profit to Nutrition, with the goal of making it appear that Nutrition was meeting its performance projections.

Summary generated from official Securities and Exchange Commission press release