Bayer CropScience Reaches Settlement for Biotech Rice
5 July 2011 Bayer CropScience has reached settlement agreements with attorneys representing US long-grain rice growers in the biotech rice litigation, according to a press release.
As agreed to in the settlements, Bayer CropScience will pay up to $750 million to resolve claims submitted by growers. The settlement program will be open to all US farmers who had been growing long-grain rice during the period of 2006 through 2010.
Settlement agreements have been reached with two groups of lawyers. One agreement involves those cases that are a part of the federal multi-district litigation; the other involves those cases in state courts. BrownGreer PLC will administer the settlement processes for both agreements. Rice growers have a 90-day period in which to submit their claims.
Bayer CropScience regards the inclusion of all long-grain rice growers in the settlement program, whether they have filed a lawsuit or not, to be crucial to demonstrating the company’s long-term commitment to rice, which remains an important crop for Bayer CropScience throughout the world, according to the company.
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