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Reuters: Syngenta to pay ~$1.5B in corn settlement

Published 09/26/2017, 02:13 PM
© Reuters.  Reuters: Syngenta to pay ~$1.5B in corn settlement
SYT
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  • Syngenta (SYT) agrees to pay nearly $1.5B to resolve lawsuits stemming from its decision to commercialize a genetically modified strain of corn before China approved importing it, Reuters reports.
  • The company confirms it reached a settlement without revealing financial terms.
  • The settlement came during a trial in Minnesota state court that began earlier this month in which ~22K farmers were seeking $400M.
  • A federal jury in June ordered SYT to pay $217.7M to 7K-plus Kansas farmers who blamed it for causing them catastrophic damage after Chinese officials began refusing U.S. corn shipments in 2013.
  • Now read: How To Get More Gold, Silver And Miners For Your Money


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