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|Bayer to Pay $750 Million in Genetic Rice Lawsuit :|
Bayer CropScience has agreed to pay $750 million to farmers in five Midwestern states in a lawsuit over contaminated rice. The lawsuit claims that when LibertyLink genetically modified rice was discovered in the 2006 rice crop, it had not yet been approved for human consumption. As a result, foreign countries banned the importing of American rice, and rice futures plummeted. Under terms of the settlement, "farmers who planted at least 85 percent of the roughly 2.2 million acres of rice during [2006-2010] must sign up or Bayer can walk away from the deal." Robert Patrick, St. Louis Post Dispatch
Read Article: St. Louis Post Dispatch
| Date: 2011-07-02 00:00:00