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.
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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