Ethanol Price Manipulation Lawsuit Is Back to Haunt ADM
- Judge denies ADM’s request to dismiss the case amid new claims
- Ethanol producer claims antitrust violations hurt competitors
Rail cars filled with ethanol outside an Archer Daniels Midland Co. facility in Decatur, Illinois.
Photographer: Mark Cowan/BloombergThis article is for subscribers only.
Archer-Daniels-Midland Co. must face a lawsuit claiming it undermined competitors by manipulating ethanol prices, after Midwest Renewable Energy LLC offered fresh allegations to support its case, according to a ruling seen by Bloomberg.
US District Judge Colin S. Bruce on Sept. 26 denied ADM’s request to dismiss the case where competitors accuse the company of violating antitrust laws. The decision came after an analysis of an amended complaint by Midwest in which it names several ethanol producers allegedly affected by what the complaint characterizes as ADM’s anticompetitive practices.