Archer Daniels Faces Derivative Suit Over Ukrainian Bribes

Law360, New York (January 17, 2014, 2:22 PM EST) -- A shareholder slapped Archer Daniels Midland Co.'s directors with a derivative suit in Illinois state court Thursday, seeking to hold the board accountable for allegedly turning a blind eye to a bribery scheme in the Ukraine that ultimately cost the company $54.2 million in a settlement with U.S. authorities.

ADM Shareholder Vladimir Gusinsky Revocable Trust filed the suit against a slew of the food-processing and commodities-trading company’s officers and board members, including President, CEO and Chairman Patricia A. Woertz and lead director Mollie Hale Carter. The...
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