ADM, Cargill Face Price-Fixing Suit
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Archer Daniels Midland Co., Cargill Inc. and two other makers of corn sweeteners must face a trial over claims that they colluded to fix prices, after a federal appeals court revived a 7-year-old case that had been dismissed in August.
PepsiCo Inc., Coca-Cola Co. and 24 other food and beverage companies had sued the sweetener producers, saying that in 1988 they colluded to fix the price of high-fructose corn syrup.
Executives at Archer Daniels and Wayzata, Minn.-based Cargill didn’t return calls seeking comment. Shares of Archer Daniels fell 15 cents to $13.74 on the New York Stock Exchange.
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