CHICAGO (AP) – A corn processor agreed to pay $100 million Wednesday to settle a federal antitrust lawsuit that accused the company of conspiring to fix the price of high-fructose corn syrup, a sweetener used in soft drinks and a wide range of other products.

A.E. Staley Manufacturing Co. is the last of several defendants in the nearly decade-old case to settle, bringing the total payout to $531 million.

The Decatur-based company admitted no wrongdoing under the deal, which is subject to approval by a federal judge in Peoria.

The class-action lawsuit was filed in 1995 by about 20 corn syrup buyers, who alleged damages of $1.6 billion. The number of plaintiffs grew to about 2,000, including the Coca-Cola Co. and PepsiCo.

The case had been scheduled for trial in September. Any damages awarded would have been tripled under antitrust laws.

In a statement, Staley parent company Tate & Lyle PLC said Staley settled to avoid the risk and uncertainty of a trial.

Last month, Decatur-based Archer Daniels Midland Co. agreed to pay a $400 million settlement. Minneapolis-based Cargill Inc. and its American Maize Products subsidiary agreed to pay a combined $24 million. CPC International settled for $7 million in 1996.

AP-ES-07-28-04 1738EDT