Sweetener Price-Fixing Lawsuit Will Proceed
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Archer-Daniels-Midland Co., Cargill Inc. and other makers of corn sweeteners must face a trial on price-fixing charges after the Supreme Court refused to throw out a $4-billion suit by food companies.
The suit alleges that the producers colluded to fix the price of a corn sweetener used in soft drinks, candy and baked goods.
The justices declined to hear arguments by ADM, Cargill and A.E. Staley Manufacturing Co. that the food and beverage companies didn’t provide enough evidence of a price-fixing conspiracy to go to trial.
Shares of Decatur, Ill.-based ADM fell 31 cents to $10.83 on the NYSE.
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