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Olam Unit Will Pay $7.75 Million to Settle Peanut Price-Fix Case

Oct. 26, 2020, 8:06 PM

An Olam International Ltd. subsidiary will pay nearly $8 million to settle claims in Virginia federal court that it colluded with Archer Daniels Midland Co. and another top U.S. peanut sheller to drive down the price of unprocessed nuts, known as “runners.”

The agreement doesn’t affect antitrust claims facing Birdsong Corp. or Golden Peanut Co., which is owned by ADM, according to the filing disclosing the deal in the U.S. District Court for the Eastern District of Virginia.

Judge Raymond A. Jackson gave a green light in May to accusations that the peanut shellers conspired to stabilize raw nut prices ...