Peanut Price-Fixing Deals Worth $58 Million Get Judge’s Approval

A peanut price-fixing class action targeting Archer Daniels Midland Co. and other top shelling companies crept closer to a conclusion Thursday, 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 taking the case to trial and beyond.

“Any further litigation of this case would be lengthy, ...