DuPont has filed a lawsuit against Monsanto Co. demanding payment of royalties from DuPont’s gene-gun technology used by Monsanto at some point in development of herbicide-resistant soybeans, according to industry reports.
The most extensive report about the lawsuit was posted on delawareonline.com and written by Jeff Murdock. The lawsuit stems from a “2012 arbitration panel decision requiring Monsanto to pay royalties on the technology known as Biolistic. DuPont clamed Monsanto made two initial payments totaling roughly $33.3 million, but then failed to meet additional royalty obligations.”
DuPont did not disclose exactly how many more million dollars they claim to be owed. But Murdock quoted a Monsanto spokesperson that referenced a number of $7 million. Lawsuit information reportedly suggests DuPont contends royalties for use of Biolistic delivery technology by Monsanto for South American crops were not paid.
To read the whole delawareonline.com article click here.