ADM Whistle-Blower Sues Company

Former Archer-Daniels-Midland Co. executive Mark Whitacre, who acted as an informant in an antitrust case against the company, sued ADM, seeking back wages and punitive damages. In a lawsuit filed in U.S. District Court in Chicago, Whitacre also formally denied charges previously brought by ADM that he allegedly stole $9 million from the agribusiness company. In his lawsuit, Whitacre seeks a judgment against ADM of more than $50,000 and punitive damages of more than $50,000. Potential damages, if awarded, could be much greater, perhaps in the tens of millions of dollars, sources close to the case said. Decatur, Ill.-based ADM did not respond to requests for comment.