Cargill Inc.Cargill Inc., Minneapolis, agrees to settle for $24 million a class-action lawsuit that sought billions of dollars and accused the company of fixing prices of a common food sweetener Sweetener A special feature added to a debt obligation or preferred stock to promote marketability. Notes: Warrants and convertibles are two popular sweeteners. See also: Convertible Bond, Kicker, Warrant Sweetener . The company still denies the claims made in the lawsuit, filed in 1995 by 18 companies that manufacture soft drinks, canned good, baked goods and confectionary and dairy products. "We agreed to settle only after assessing the costs of further litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ," Cargill said in a statement. "We did not engage in any illegal activity." That leaves co-defendants Archer Daniels Midland The Archer Daniels Midland Company (NYSE: ADM), is a conglomeration based in Decatur, Illinois. ADMoperates more than 270 plants worldwide, where cereal grains and oilseeds are processed into numerous products used in food, beverage, nutraceutical, industrial and animal feed Co. and A.E. Staley Manufacturing Co., a unit of Britain-based Tate & Lyle Plc, to face trial set for September on claims they fixed prices for high fructose fructose (frŭk`tōs), levulose (lĕv`yəlōs'), or fruit sugar, simple sugar found in honey and in the fruit and other parts of plants. corn syrup. |
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