Monsanto Reaches Settlement Agreement With Midwest Wheat Farmers
Monsanto Company has entered into a settlement agreement with wheat farmers in seven Midwest sates that resolves several lawsuits related to the discovery of genetically-modified wheat on a farm in Eastern Oregon and subsequent temporary limits on certain exports of soft white wheat. Under the terms of the settlement and without any admission of liability, Monsanto agreed to make donations of $50,000 to the agricultural school at the land grant university in each state: Kansas, Missouri, Illinois, Oklahoma, Texas, Louisiana and Mississippi.
“Rather than paying the costs of protracted litigation, this agreement puts that money to work in research and development efforts for the wheat industry,” said Kyle McClain, Monsanto chief litigation counsel. “Resolution in this manner is reasonable and in the best interest of all of the parties.”
This settlement will not resolve claims that remain pending by wheat growers in Arkansas who also filed suit.
“We believe this is a unique and fair mechanism for resolving the claims of Midwest and southeast wheat farmers,” said interim lead counsel for the plaintiffs, Patrick Pendley of Pendley, Boudin & Coffin, L.L.P. in Plaquemine, Louisiana. “The settlement fairly and equitably resolves our clients’ claims in a manner that will benefit all wheat industry farmers in the states receiving donations.”
Read more about the settlement here.