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United States V. Archer Daniels Midland Co.
''United States v. Archer Daniels Midland Co.'' was a criminal case filed on October 15, 1996 in which the United States alleged that Archer Daniels Midland Company (ADM) and other corporations and individuals engaged in a conspiracy to fix and maintain prices of lysine and citric acid and to restrain or eliminate competing suppliers of these additives in violation of Section 1 of the Sherman Antitrust Act (). ADM entered into a plea agreement in which ADM pleaded guilty to both antitrust counts and agreed to pay a combined fine of $100 million ($70 million for the lysine count and $30 million for the citric acid count). This is equivalent to $ million in present-day terms and was at the time the largest antitrust fine ever imposed. The United States' charges against ADM were the second round of charges brought as a result of the U.S. Department of Justice's antitrust investigation into the food and feed additives industries. A few months earlier, in August 1996, the Japanese firm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States District Court For The Northern District Of Illinois
The United States District Court for the Northern District of Illinois (in case citations, N.D. Ill.) is the federal trial-level court with jurisdiction over the northern counties of Illinois. Appeals from the Northern District of Illinois are taken to the United States Court of Appeals for the Seventh Circuit (except for patent claims and claims against the U.S. government under the Tucker Act, which are appealed to the Federal Circuit). The court is divided into two geographical divisions: The eastern division includes Cook, DuPage, McHenry, Grundy, Kane, Kendall, La Salle, Lake, and Will counties. Its sessions are held in Chicago and Wheaton. The western division includes Boone, Carroll, De Kalb, Jo Daviess, Lee, Ogle, Stephenson, Whiteside, and Winnebago. Its sessions are held in Freeport and Rockford. The United States Attorney for the Northern District of Illinois represents the United States in civil and criminal litigation in the court. The current ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ruben Castillo (judge)
Reuben or Reuven is a Biblical male first name from Hebrew רְאוּבֵן (Re'uven), meaning "behold, a son". In the Bible, Reuben was the firstborn son of Jacob. Variants include Rúben in European Portuguese; Rubens in Brazilian Portuguese; Rubén in Spanish; Rubèn in Catalan; Ruben in Dutch, German, French, Italian, Swedish, Norwegian, Danish, and Armenian; and Rupen/Roupen in Western Armenian. The form Ruben can also be a form of the name Robin, itself a variation of the Germanic name Robert in several Celtic languages. It preserves the "u" sound from the name's first component "hruod" (compare Ruairí, the Irish form of Roderick). Mononym * Ruben I, Prince of Armenia (1025/1035 – 1095), the first lord of Armenian Cilicia or "Lord of the Mountains" from 1080/1081/1082 to 1095, founder of Rubenid dynasty * Ruben II, Prince of Armenia (c. 1165 – 1170), the seventh lord of Armenian Cilicia or "Lord of the Mountains" from 1169 to 1170 * Ruben III, Prince of Armenia ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Archer Daniels Midland Company
The Archer-Daniels-Midland Company, commonly known as ADM, is an American multinational food processing and commodities trading corporation founded in 1902 and headquartered in Chicago, Illinois. The company operates more than 270 plants and 420 crop procurement facilities worldwide, where cereal grains and oilseeds are processed into products used in food, beverage, nutraceutical, industrial, and animal feed markets worldwide. ADM ranked No. 54 in the 2020 ''Fortune'' 500 list of the largest United States corporations. The company also provides agricultural storage and transportation services. The American River Transportation Company along with ADM Trucking, Inc., are subsidiaries of ADM. ADM has been the subject of significant media attention and infamy over the years with its various scandals, one inspiring a novel and subsequent film ''The Informant!'' History In 1902, George A. Archer and John W. Daniels started a linseed crushing business in Minneapolis, M ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Antitrust
Competition law is the field of law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. It is also known as antitrust law (or just antitrust), anti-monopoly law, and trade practices law. The history of competition law reaches back to the Roman Empire. The business practices of market traders, guilds and governments have always been subject to scrutiny, and sometimes severe sanctions. Since the 20th century, competition law has become global. The two largest and most influential systems of competition regulation are United States antitrust law and European Union competition law. National and regional competition authorities across the world have formed international support and enforcement networks. Modern competition law has historically evolved on a national level to promote and maintain fair competition in markets principally within the territorial boun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Fixing
Price fixing is an anticompetitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand. The intent of price fixing may be to push the price of a product as high as possible, generally leading to profits for all sellers but may also have the goal to fix, peg, discount, or stabilize prices. The defining characteristic of price fixing is any agreement regarding price, whether expressed or implied. Price fixing requires a conspiracy between sellers or buyers. The purpose is to coordinate pricing for mutual benefit of the traders. For example, manufacturers and retailers may conspire to sell at a common "retail" price; set a common minimum sales price, where sellers agree not to discount the sales price below the agreed-to minimum price; buy the product from a supplier at a specified maxi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sherman Antitrust Act
The Sherman Antitrust Act of 1890 (, ) is a United States antitrust law which prescribes the rule of free competition among those engaged in commerce. It was passed by Congress and is named for Senator John Sherman, its principal author. The Sherman Act broadly prohibits 1) anticompetitive agreements and 2) unilateral conduct that monopolizes or attempts to monopolize the relevant market. The Act authorizes the Department of Justice to bring suits to enjoin (i.e. prohibit) conduct violating the Act, and additionally authorizes private parties injured by conduct violating the Act to bring suits for treble damages (i.e. three times as much money in damages as the violation cost them). Over time, the federal courts have developed a body of law under the Sherman Act making certain types of anticompetitive conduct per se illegal, and subjecting other types of conduct to case-by-case analysis regarding whether the conduct unreasonably restrains trade. The law attempts to prevent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lysine
Lysine (symbol Lys or K) is an α-amino acid that is a precursor to many proteins. It contains an α-amino group (which is in the protonated form under biological conditions), an α-carboxylic acid group (which is in the deprotonated −COO− form under biological conditions), and a side chain lysyl ((CH2)4NH2), classifying it as a basic, charged (at physiological pH), aliphatic amino acid. It is encoded by the codons AAA and AAG. Like almost all other amino acids, the α-carbon is chiral and lysine may refer to either enantiomer or a racemic mixture of both. For the purpose of this article, lysine will refer to the biologically active enantiomer L-lysine, where the α-carbon is in the ''S'' configuration. The human body cannot synthesize lysine. It is essential in humans and must therefore be obtained from the diet. In organisms that synthesise lysine, two main biosynthetic pathways exist, the diaminopimelate and α-aminoadipate pathways, which employ distinct e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Citric Acid
Citric acid is an organic compound with the chemical formula HOC(CO2H)(CH2CO2H)2. It is a colorless weak organic acid. It occurs naturally in citrus fruits. In biochemistry, it is an intermediate in the citric acid cycle, which occurs in the metabolism of all aerobic organisms. More than two million tons of citric acid are manufactured every year. It is used widely as an acidifier, as a flavoring, and a chelating agent. A citrate is a derivative of citric acid; that is, the salts, esters, and the polyatomic anion found in solution. An example of the former, a salt is trisodium citrate; an ester is triethyl citrate. When part of a salt, the formula of the citrate anion is written as or . Natural occurrence and industrial production Citric acid occurs in a variety of fruits and vegetables, most notably citrus fruits. Lemons and limes have particularly high concentrations of the acid; it can constitute as much as 8% of the dry weight of these fruits (about 47 g/L in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ajinomoto
is a Japanese multinational food and biotechnology corporation which produces seasonings, interlayer insulating materials for semiconductor packages for use in personal computers, cooking oils, frozen foods, beverages, sweeteners, amino acids, and pharmaceuticals. is the trade name for the company's original monosodium glutamate (MSG) product, the first of its kind, since 1909. The corporation's head office is located in Chūō, Tokyo. , Ajinomoto operates in 36 countries and employs an estimated 33,651 people. Its yearly revenue in 2021 is around ¥1.1 trillion JPY or $8 billion USD. History 1907–1944: Origins and expansion Ajinomoto Co., Inc. was created in 1908 as a subsidiary of Suzuki Pharmaceutical Co., Ltd., which was founded in May 1907 by Saburosuke Suzuki II and Kikunae Ikeda. Ajinomoto was created to let Ikeda, a professor at Tokyo Imperial University, sell monosodium glutamate (MSG) seasoning made from wheat that he invented and patented. He created the seasoning ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kyowa Hakko Kirin
is a Japanese pharmaceutical and biotechnology company under the Kirin Holdings, and is among the 40 largest in the world by revenue. The company is headquartered in Chiyoda-ku, Tokyo and is a member of the Nikkei 225 stock index. History On July 1, 1949 the forerunner of the present company, Kyowa Hakko Kogyo Co., Ltd. is established. Following the merger with Kirin Pharma Co., Ltd., on October 1, 2008 the company changed its name to its present. On July 11, 2014, the KHK subsidiary, ProStrakan Group (based in Scotland), acquired Archimedes Pharma from the Novo Nordisk Foundation for $394 million In 2019, the entity was renamed "Kyowa Kirin Co., Ltd.", replacing its prior name of Kyowa Hakko Kirin Co., Ltd. In November 2022, Kyowa Kirin announced plans to spin its international established medicines portfolio into a new joint venture with German company Grünenthal. Business segments and products * Pharmaceuticals business The company developed a method to make afucosyla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lysine Price-fixing Conspiracy
The lysine price-fixing conspiracy was an organized effort during the mid-1990s to raise the price of the animal feed additive lysine. It involved five companies that had commercialized high-tech fermentation technologies, including American company Archer Daniels Midland (ADM), Japanese companies Ajinomoto and Kyowa Hakko Kirin, Kyowa Hakko Kogyo, and Korean companies Sewon America Inc. and CJ CheilJedang, Cheil Jedang Ltd. A criminal investigation resulted in fines and three-year prison sentences for three executives of ADM who Collusion, colluded with the other companies to price fixing, fix prices. The foreign companies settled with the United States Department of Justice Antitrust Division in September through December 1996. Each firm and four executives from the Asian firms pleaded guilty as part of a plea bargain to aid in further investigation against ADM. The cartel had been able to raise lysine prices 70% within their first nine months of cooperation. The investigation y ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Fixing Convictions
A price is the (usually not negative) quantity of payment or compensation given by one party to another in return for goods or services. In some situations, the price of production has a different name. If the product is a "good" in the commercial exchange, the payment for this product will likely be called its "price". However, if the product is "service", there will be other possible names for this product's name. For example, the graph on the bottom will show some situations A good's price is influenced by production costs, supply of the desired item, and demand for the product. A price may be determined by a monopolist or may be imposed on the firm by market conditions. Price can be quoted to currency, quantities of goods or vouchers. * In modern economies, prices are generally expressed in units of some form of currency. (More specifically, for raw materials they are expressed as currency per unit weight, e.g. euros per kilogram or Rands per KG.) * Although prices ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
