Class action lawsuit filed against ADM, accused of manipulating ethanol market


A class-action lawsuit was filed yesterday in Nebraska federal court against Archer Daniels Midland Company (ADM), one of the world’s largest food processing and commodities trading companies. The lawsuit alleges that ADM engaged in an illegal scheme to manipulate the U.S. ethanol markets. The lawsuit was filed on behalf of ethanol producers led by Green Plains Inc. and its subsidiaries.

“The markets depend on fair pricing and legal conduct by all participants. We encourage everyone with knowledge and those that care about fair and equitable marketplaces to come forward,” said Adam Levitt, a partner with DiCello Levitt Gutzler in Chicago, representing the Green Plains plaintiffs and the other members of the proposed class.