Archer Daniels Midland Co. Agrees to Pay $45M to Settle Peanut Price-Fixing Lawsuit
CHICAGO — Archer Daniels Midland Co. will pay $45 million to settle a lawsuit from peanut farmers claiming the firm colluded with other processors to depress the prices paid to peanut growers.
The company, formerly headquartered in Decatur and with major grain processing operations here, denied any wrongdoing on part of its Golden Peanut processing division.
“ADM continues to deny any liability in the case brought against Golden Peanut, but we have agreed to settle the lawsuit rather than expand further time, money, and resources on the case,” spokeswoman Jackie Anderson told the Herald & Review Sunday.
“ADM has been building strong relationships with farmers since the company’s inception in 1902, and we continue to make farmers the center of our business.”
