EU Court Cuts Archer Daniels Antitrust Fine By €10M

Law360, New York (July 9, 2009, 12:00 AM EDT) -- After a lengthy fight, the European Union's highest court has slashed €10 million ($14 million) off a nearly €40 million ($56.2 million) fine imposed on U.S. food processing giant Archer Daniels Midland Co. by the EU for allegedly participating in a cartel to fix the price of citric acid.

On Thursday, the European Court of Justice slashed the fine from €39.7 million ($55.7 million) to €29.4 million ($40.1 million) after finding that regulators erred in labeling Archer Daniels the ringleader of the citric acid market....
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