The US Supreme Court has decided not to review a ruling that agribusiness giants Archer Daniels Midland and Cargill can be sued for allegedly conspiring to fix the price of high fructose corn syrup.
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The court rejected appeals by ADM, Cargill and AE Staley Manufacturing, a unit of UK-based Tate & Lyle, that a 1995 class-action lawsuit should have been dismissed because it presented only “ambiguous” evidence of a conspiracy, reported Reuters.
The plaintiffs, 18 companies that manufacture soft drinks, canned goods, baked goods, confectionery products and dairy products, are seeking more than US$4bn in damages for an alleged price-fixing conspiracy that started in the late 1980s and continued until mid-1995.
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