Current:Home > MarketsAntitrust lawsuits accuse major US sugar companies of conspiring to fix prices -TrueNorth Capital Hub
Antitrust lawsuits accuse major US sugar companies of conspiring to fix prices
View
Date:2025-04-17 09:40:02
MINNEAPOLIS (AP) — Three antitrust lawsuits filed by food businesses in federal court in Minnesota this week accuse some of the largest U.S. sugar-producing companies of conspiring to fix prices.
The lawsuits name United Sugars, which includes American Crystal Sugar and the Minn-Dak Farmers Cooperative; Domino Sugar; Cargill; other producers, and a commodity data company. The plaintiffs in the class-action lawsuits include Great Harvest Bread in Duluth, Morelos Bakery in St. Paul and the Connecticut restaurant group WNT, the Star Tribune reported.
“Since at least 2019, the Producing Defendants have had an ongoing agreement to artificially raise, fix, stabilize or maintain Granulated Sugar prices in the United States,” one of the lawsuits alleges. “To effectuate this agreement, the Producing Defendants engaged in price signaling and exchanges of detailed, accurate, non-public, competitively sensitive information.”
The lawsuits, which make broadly similar claims, seek injunctions barring the sugar companies from engaging in illegal conduct and unspecified damages.
Minnesota grows more sugar beets than any other state. The sugar industry, which is dominated by a handful of large companies, has faced antitrust scrutiny for decades. A 1978 consent decree banned sugar companies from communicating about future prices or coordinating on sugar sales.
United Sugars, which is based in Edina, called the claims baseless.
“While it is our longstanding practice to not comment extensively on litigation, we believe this case has no merit, and we will vigorously defend ourselves from its baseless accusations,” the company said in a statement.
Minnetonka-based agribusiness giant Cargill also denied the allegations.
“We take pride in conducting our business with integrity,” Cargill said in a statement. “We compete vigorously but do so fairly, ethically and in compliance with the law.”
veryGood! (755)
Related
- Sonya Massey's father decries possible release of former deputy charged with her death
- You Need to See Jacob Elordi’s Reaction to His Saltburn-Inspired Bathwater Candle
- Ohio State hires former Texans and Penn State coach Bill O'Brien in to serve as new OC
- Biden adds to his 'Bidenomics' flop: This new rule throws wrench in popular gig economy.
- In ‘Nickel Boys,’ striving for a new way to see
- Democratic Gov. Andy Beshear rips into spending plan offered by House Republicans in Kentucky
- Rhode Island govenor wants to send infrastructure spending proposals to voters in November
- EU official praises efforts by Poland’s new government to restore the rule of law
- Intel's stock did something it hasn't done since 2022
- Trump urges Supreme Court to reject efforts to keep him off ballot, warning of chaos in new filing
Ranking
- Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
- Stanford's Tara VanDerveer will soon pass Mike Krzyzewski for major coaching record
- Single women in the U.S. own more homes than single men, study shows
- Wear Your Heart on Your Sleeve With These Valentine’s Day Sweaters Under $40
- Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
- 3 people charged with murdering a Hmong American comedian last month in Colombia
- Defense Department to again target ‘forever chemicals’ contamination near Michigan military base
- Court ruling could mean freedom for hundreds serving life sentences in Michigan
Recommendation
Stamford Road collision sends motorcyclist flying; driver arrested
Julia Fox Beats the Cold at the Sundance Film Festival in Clever Bikini Getup
South Korea calls on divided UN council ‘to break the silence’ on North Korea’s tests and threats
Former NBA player Scot Pollard is waiting for heart transplant his dad never got
What do we know about the mysterious drones reported flying over New Jersey?
Grand jury indicts Alec Baldwin in fatal shooting of cinematographer on movie set in New Mexico
Ashley Park reveals she spent a week in the ICU with 'critical septic shock'
Proof Sophie Turner and Peregrine Pearson's Romance Is Heating Up