Archer Daniels Midland asked a federal court to drop a lawsuit alleging one of the nation's largest ethanol producers manipulated the ethanol market beginning in November 2017, reports Progressive Farmer.
In July, Omaha-based Green Plains Inc. alleged ADM conducted a scheme to illegally depress the ethanol cash spot market, in a class-action lawsuit filed in the U.S. District Court for the District of Nebraska in Lincoln.
ADM filed two separate motions on Monday, one asking the court to dismiss the case and another to transfer the case to the U.S. District Court for the District of Central Illinois, where the company is based.
ADM argued in the dismissal motion the law does not allow Green Plains to sue for losses selling a commodity such as ethanol.
In addition, ADM argued the statute of limitations had expired and Green Plains hadn't filed a "plausible" claim of tortious interference with contractual relations.
