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ADM’s $45 Million Settlement in Peanut Price Case Heads to Judge

March 12, 2021, 5:51 PM

The peanut farmers leading a price-fixing class action against three top shelling companies asked a federal judge in Virginia to approve a $45 million settlement with Archer Daniels Midland Co. that would bring the case to an end.

The agreement with ADM subsidiary Golden Peanut Co., docketed Thursday in the U.S. District Court for the Eastern District of Virginia, follows earlier deals worth a combined $58 million with Birdsong Corp. and an Olam International Ltd. unit.

Those settlements—which are set for a March 25 final fairness hearing—call for payments of $50 million from Birdsong and $7.75 million from Olam.

If ...