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The global citric acid conspiracy: Legal‐economic lessons
Author(s) -
Connor John M.
Publication year - 1998
Publication title -
agribusiness
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.57
H-Index - 43
eISSN - 1520-6297
pISSN - 0742-4477
DOI - 10.1002/(sici)1520-6297(199811/12)14:6<435::aid-agr2>3.0.co;2-s
Subject(s) - restructuring , plaintiff , enforcement , price fixing , law and economics , political science , style (visual arts) , business , law , economics , collusion , industrial organization , archaeology , history
ADM was at the center of two large global price‐fixing conspiracies. Buyers were overcharged $116 to $378 million in the United States. Market structure and corporate management style facilitated these cartels. The criminal prosecutions and defendants' legal strategies were both laudatory, but civil plaintiffs were short‐changed. ADM has undergone severe management restructuring, but the effectiveness of apprehending global cartels with national legal enforcement is questionable. © 1998 John Wiley & Sons, Inc.