Reflecting one of the largest agricultural case settlements in history, the nationwide class action lawsuit against Syngenta for selling GMO corn seed that had not yet been approved by China has been settled for $1.5 billion.
The settlement covers all U.S.-based corn farmers, grain handlers, and ethanol producers who sold corn or corn products after September 15, 2013.
Filed in the Kansas federal court, the suit claims that Syngenta sold two varieties of genetically modified corn to U.S. farmers before securing approval from the Chinese market, leading to a significant crash in the market price.
A motion has been filed for preliminary approval, however the final settlement must gain approval from U.S. District Judge John W. Lungstrum with the District of Kansas. Once judge Lungstrum approves, notice will be mailed to the class action members who will then have the ability to submit a claim form, opt out of the settlement, or object to the terms within a set period of time. Upon final approval, funds could be distributed in the first half of 2019.
Lynda Kiernan is Editor with HighQuest Group Media and of the Oilseed & Grain News. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at email@example.com.