ADM Must Still Cough Up €43.9M From Trough

Law360, New York (May 18, 2006, 12:00 AM EDT) -- In a blow to Archer Daniels Midland Co., the European Union’s highest court has upheld a €43.9 million fine against the U.S. agricultural giant related to the price-fixing of certain animal feed ingredients.

On Thursday, The Court of Justice sustained the sizable fine, dismissing ADM’s claim that the penalty initially levied in 2000 was too excessive.

In issuing its decision, the court pointed out that regulators could have exercised their right to fine the Illinois-based titan up to 10% of its annual sales but opted for...
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