The U.S. District Court for the District of Nebraska has stayed proceedings in a lawsuit alleging ethanol market manipulation by Archer Daniels Midland, pending a motion to change venue in the case, reports the Progressive Farmer.
Omaha-based Green Plains Inc. filed a class-action lawsuit in the court in July alleging ADM conducted a scheme to illegally depress the ethanol cash spot market.
Green Plains attorneys filed a brief on Tuesday opposing a change of venue from the Nebraska court to a district court in Illinois where ADM is headquartered.
There are two other similar lawsuits filed in the U.S. District Court for the Central District of Illinois, one by Midwest Renewable Energy and another by Swiss company AOT Holdings. Both cases allege ethanol market manipulation by ADM.
Read the full report here.
