Corn Products International, Inc. manufactures and sells starches, liquid sweeteners and other ingredients to food and industrial customers in over 60 industries around the world.

The original Complaint charges Corn Products and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Specifically, the Complaint alleges that during the Class Period, Defendants issued materially false and misleading statements concerning the Company's future prospects. Specifically, the Complaint alleges that these statements were materially false and misleading because, at the time that these statements were made, Defendants knew, but failed to disclose and/or misrepresented: (i) that the Company was experiencing manufacturing problems at certain of its facilities that were causing its expenses to rise dramatically above internally forecasted levels. These problems caused certain of the Company's processing facilities to close and/or slowdown production thereby raising expenses; (ii) that the Company had contracted for corn in Canada in the late Fall of 2004 at prices higher than present prevailing prices, thereby forcing the Company to purchase corn at above-market prices and further eroding the Company's profit margins. In other words, the Company's hedging strategy related to its Canadian corn purchases was then negatively impacting its financial results and would continue to do so for the next year; and (iii) given the foregoing, Defendants lacked a reasonable basis for their positive statements concerning the Company and its earnings and prospects.

The Complaint further alleges that on or around April 5, 2005, before the market opened, Corn Products issued a press release announcing that it expected first quarter earnings to decline by 35 to 40 percent from the first quarter of 2004, due primarily to the timing of corn purchases, increased expenses, and manufacturing expense problems. In response to this announcement, the price of Corn Products common stock declined precipitously, falling from $25.86 per share to $20.98 per share, on extremely heavy trading volume.

As disclosed by the Company’s FORM 10-K for the fiscal year ended December 31, 2005, between May and June of 2005, the Company, Samuel Scott and Cheryl Beebe were named as Defendants in five purported securities class action suits filed in the United States District Court for the Northern District of Illinois. The Complaints alleged violations of certain federal securities laws and sought unspecified damages on behalf of a purported class of purchasers of the Company’s common stock between January 25, 2005 and April 4, 2005. In August 2005, all of these class actions were consolidated in the matter of Monty Blatt v. Corn Products International, Inc. (N.D. Ill. 05 C 3033). In November 2005, Plaintiffs filed a consolidated amended Complaint containing essentially the same legal claims. Cheryl Beebe was not named as a Defendant in the consolidated amended Complaint.

On June 14, 2006, the Court entered the Memorandum Opinion and Order denying the Defendants’ motion to dismiss the Consolidated Class Action Amended Complaint. On October 11, 2006, the Plaintiffs filed a motion to certify the class.

The parties entered into a Stipulation and Agreement of Settlement on May 23, 2007. On June 19, the Court granted preliminary approval of the Settlement. On November 15, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

On March 10, 2009, the Court authorized disbursement of the net Settlement fund.

On January 24, 2011, the Court authorized Cy Pres distribution of the remaining Settlement funds.