US: CCE wins price-fixing lawsuit
Coca-Cola Enterprises Inc. has received US$48.3m from the settlement of a price-fixing lawsuit against several major corn processors.
The company made the announcement in a filing with the US Securities and Exchange Commission yesterday (7 July).
The payout, which represents around 90% of the anticipated settlement, will be recorded as a reduction in cost of sales in the second quarter of 2005. The remainder is expected to be received later this year or early in 2006.
The settlement stems from a class action against corn syrup processors, including Archer Daniels Midland Co. and Cargill Inc., regarding the fixing of prices for high-fructose corn syrup used in the production of soft drinks.
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