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EU Adviser Pushes Lower Cartel Fine For ADM

Law360 (November 6, 2008, 12:00 AM EST) -- In a boost to Archer Daniels Midland Co., an adviser to the European Union's top court has reportedly recommended slashing a fine imposed on the U.S. food processing giant for its involvement in a citric acid price-fixing cartel.

Advocate General Paulo Magozzi told the Luxembourg-based European Court of Justice on Thursday that a €39.69 million fine imposed by the European Commission on ADM should be reduced to €29.4 million, Reuters reported.

ADM's penalty should be cut on the grounds that the company's status as leader of...
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