Peanut Cartel Deals Worth $58 Million Approved After False Nod

A peanut price-fixing class action targeting Archer Daniels Midland Co. and other top shelling companies crept closer to a conclusion, when a federal judge in Virginia approved settlements worth $58 million with Birdsong Corp. and an Olam International Ltd. subsidiary.

Judge Raymond A. Jackson gave his blessing to a $50 million agreement with Birdsong and a $7.75 million deal with Olam, saying the agreement seemed “favorable” to the farmers leading the lawsuit in light of the risks and costs they would have shouldered going forward.

“Adjudication of plaintiffs’ claims has already proven costly,” and “future appeals of any jury outcome ...