Syngenta Settles MIR162 Case for $1.51 Billion

In a nationwide class action, Syngenta will pay a $1.51 billion settlement to U.S. corn farmers, grain handling facilities and ethanol plants. The settlement covers corn priced after September 15, 2013.

All farmers are eligible for the settlement, including those who might have opted out of previous Syngenta lawsuits. When funds are available farmers must submit a claim form to collect—notices will likely be mailed and farmers will need to submit forms, opt out or object to agreement terms.

This settlement comes after years of litigation. Plaintiffs alleged Syngenta’s introduction of MIR162, Agrisure Viptera, corn before it was approved in China lead to loss of income. Chinese ports rejected loads of corn that tested positive for the trait.

“We are very pleased with this outcome,” said the plaintiff’s counsel in a joint statement. “America’s corn farmers and related businesses were hurt economically and this settlement will provide fair compensation for their damages. It is an equitable result for all involved.”

After claims are submitted, U.S. District Judge John W. Lungstrum in the District of Kansas will decide whether or not to officially approve of the $1.51 billion settlement. Lawyers for the plaintiffs said they expect funds to be distributed as early as the first half of 2019.

 “This settlement does not constitute and admission by either side concerning the merits of the parties’ allegations and defenses,” said Syngenta in a statement provided to AgWeb. “With this litigation largely resolved, Syngenta will continue its focus on agricultural innovation, and continues to believe that the American farmers should have access to the latest U.S.-approved technologies to help them increase their productivity and crop yield.”

Comments

Restricted HTML

  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol start type> <li> <dl> <dt> <dd> <h2 id> <h3 id> <h4 id> <h5 id> <h6 id>
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.
Submitted by Brad on Thu, 03/15/2018 - 09:37

Syngenta seeds exhibited a cavalier disregard for the needs and rights of its customers. Within the company, there was a sense of entitlement when regulatory approvals did not occur as quickly as desired. This settlement is small compared to the real costs to farmers. An unethical result for an unethical company.

Submitted by Anna Bella on Wed, 03/28/2018 - 06:38

True advantages tremendous possibilities to succeed with minimal assets, capital device, and personnel yearly agency reorganization permits employees to decide their cost. difficult enterprise conditions placed pressure on groups to perform and Purchase Coursework Online on the lowest line. value savings had been challenging, but feel like they may be assisting to get us better located for the destiny.

In reply to by Brad (not verified)

Submitted by Harry on Fri, 03/16/2018 - 00:47

I enjoy the content and in particular the content where you're making clear explanations of things that no one else really makes clear...
Private Company Registration