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LOS ANGELES (AP) — The latest in the settlement between the sugar and corn industries (all times local):
10:30 a.m.
Big Sugar and Big Corn announced they settled their dispute over sweeteners in a statement that sugar-coats their bitter battle.
Both sides issued a statement Friday saying they were committed to practices that encourage safe and healthful consumption of sugar and high fructose corn syrup.
That statement is a far cry from the acrimony on display in a four-year-long court fight.
Sugar processors had sought $1.5 billion in a false-advertising claim against corn refiners and agribusinesses giants for an ad campaign that equated high fructose corn syrup to sugar.
Corn refiners sought $530 million for defamation for statements that said their publicity-plagued product was as addictive as crack cocaine.
No sum was announced with the settlement.
10 a.m.
The sugar and corn industries have reached a secret settlement in their billion-dollar battle over sweeteners.
Both sides announced the confidential deal Friday that puts an end to a trial in Los Angeles federal court that pitted sugar against high fructose corn syrup.
Sugar processors were seeking $1.5 billion in a false-advertising claim against corn refiners and agribusinesses giants Archer Daniels Midland and Cargill.
Sugar claimed it lost money when corn refiners tried to rebrand their publicity-plagued product as "corn sugar" and claimed it was the same as cane sugar.
The corn refiners countersued for $530 million, accusing the sugar industry of making false and misleading statements about their product that had taken a beating over claims it was unhealthy.
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