Nufarm Increases Settlement in Suit on Glyphosate Pricing
27 November 2012 
Australian off-patent crop protection company Nufarm Limited said it agreed to increase the amount that it will pay to settle a class action suit to $46.6 million, to cover a higher-than-expected number of claims.
Australian Federal Court will be asked on Nov. 28 to give final approval to a settlement of the class action brought against the company by Maurice Blackburn and Slater & Gordon in early 2011.
The previous proposal, which had set the settlement at $43.5 million, was subject to several conditions including a process whereby claims had to be registered and assessed. Nufarm said that process has resulted in a higher number of claims than was previously anticipated.
“The company is hopeful of the matter being finalized so that it can continue to focus on the business,” Nufarm said in a statement.
According to the law firm Maurice Blackburn and Slater & Gordon, the suit traces back to the steep drop in glyphosate prices from September 2008 and Nufarm’s ensuing failure to adequately warn investors that its business would suffer.
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