Syngenta to pay more than US$1.4b in corn settlement: sources
Wilmington, Delaware
SYNGENTA AG agreed to pay more than US$1.4 billion to US 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 on Tuesday in a Minnesota class-action trial. It resolves all farmers' litigation in the US but doesn't include Canadian lawsuits, according to Paul Minehart, a Syngenta spokesman. Mr Minehart wouldn't confirm the amount of the settlement, saying the terms will be made public when the deal is presented to a judge.
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