Syngenta Agrees to Pay More Than $1.4 Billion in Corn Accord
- Settlement will resolve more than 100,000 farmers’ lawsuits
- Syngenta accused of contaminating U.S. corn with its GM0 seed
Syngenta AG Golden Harvest brand corn seeds sit in a pile at a field in Princeton, Illinois, on May 2, 2017.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Syngenta AG agreed to pay more than $1.4 billion to U.S. farmers who complained that the marketing of the company’s genetically modified corn seeds shut them out of the Chinese market, according to people familiar with the deal.
The settlement with more than 100,000 farmers was announced Tuesday in a Minnesota class-action trial. It resolves all farmers’ litigation in the U.S. but doesn’t include Canadian lawsuits, according to Paul Minehart, a Syngenta spokesman. Minehart wouldn’t confirm the amount of the settlement, saying the terms will be made public when the deal is presented to a judge.