Bayer Will Pay $750 Million to Settle Gene-Modified Rice Suits
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A Bayer AG unit agreed to a $750 million settlement resolving claims with about 11,000 U.S. farmers who said a strain of the company’s genetically modified rice tainted crops and ruined their export value.
The settlement, announced yesterday, ends scores of lawsuits filed against the Bayer CropScience unit of the Leverkusen, Germany-based company by farmers in Texas, Louisiana, Missouri, Arkansas and Mississippi.