Syn­genta set­tles Ne­braska farmer’s suit

Northwest Arkansas Democrat-Gazette - - BUSINESS & FARM -

MINNEAPOLIS — Syn­genta AG reached a con­fi­den­tial set­tle­ment with a Ne­braska farmer who claimed the com­pany mis­han­dled mar­ket­ing of its ge­net­i­cally mod­i­fied seed, caus­ing U.S. corn prices to plum­met.

With the set­tle­ment, Syn­genta averts a trial that was sched­uled to start Mon­day. Terms weren’t dis­closed.

Al­most two weeks ago, Syn­genta lost a $218 mil­lion jury ver­dict for a class of Kan­sas farm­ers who brought sim­i­lar claims against the Swiss com­pany, which was ac­quired by China Na­tional Chem­i­cal Corp. in June for $43 bil­lion.

Syn­genta faces its next class ac­tion in a Min­nesota court in Au­gust, where farm­ers are seek­ing more than $600 mil­lion.

The com­pany reached the set­tle­ment with farmer Daniel Men­sik last week, as a sched­uled trial neared in state court in Min­nesota, plain­tiffs’ at­tor­ney Mikal Watts said Thurs­day by phone. The set­tle­ment was con­firmed by the court.

The farm­ers claim Syn­genta rushed its ge­net­i­cally mod­i­fied seed to mar­ket be­fore get­ting ap­proval from China to ex­port the grain there. In 2013, China stopped ship­ments af­ter call­ing the corn con­tam­i­nated by the ge­net­i­cally mod­i­fied seed, set­ting off a five-year de­pres­sion in prices, the farm­ers claim. They also al­lege Syn­genta mis­led them on when the Chi­nese would ap­prove the seed.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.