Sugar cane field. Photo: 99Art/Shutterstock.com Soaring Sugar Prices Not So Sweet: Antitrust Class Actions Surge
Two years after the U.S. Department of Justice failed to block a $315 million merger between United States Sugar Corp. and Imperial Sugar Co., antitrust lawyers have lodged nearly two dozen class actions at the sugar industry.
April 22, 2024 at 02:04 PM
5 minute read
Class Actions
What You Need to Know
- The lawsuits allege that several sugar producers, which together control 70% of the market, conspired to fix prices by sharing competitively sensitive information through an industry analyst.
- The lawsuits cite testimony and discovery from a 2022 bench trial in the DOJ's failed case, though the defendants insisted they only provided public information.
- Lawyers have sought multidistrict litigation in Minnesota, New York and Florida, home to 50% of the nation's sugar cane production.
Two years after the U.S. Department of Justice failed to block a $315 million merger between United States Sugar Corp. and Imperial Sugar Co., antitrust lawyers have lodged nearly two dozen class actions at the sugar industry.
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