By Justin Walker
Communications Specialist
A $1.5 billion settlement was reached this week in a nationwide class-action lawsuit between farmers, grain handling facilities, ethanol plants and Syngenta.
The settlement, which awaits approval by Judge John W. Lungstrum, is believed to be the largest agricultural litigation settlement in American history.
“We are very pleased with this outcome,” attorneys representing corn producers and others involved in the corn industry said. “America’s corn farmers and related businesses were hurt economically, and this settlement will provide fair compensation for their damages. It is an equitable result for all involved.”
The lawsuit claimed Syngenta caused millions of dollars in losses after the company sold AgriSure Viptera corn seed to American farmers before it was approved by China.
When China detected the unapproved strain of corn in shipments to the country in 2013, they rejected shipments of American corn.
The counsel claimed the loss of the market caused corn prices to crash and long-lasting economic damage to U.S. corn.
China later approved use of AgriSure Viptera corn.
The settlement reached this week covers all U.S. corn farmers, crop-share landlords, grain handling facilities and ethanol plants who sold corn priced before Sept. 15, 2013.
According to a news release distributed by the law firm of Gray Reed & McGraw, the settlement will also cover U.S. farmers who opted out of previous Syngenta litigation.
All class members must submit a claim form in order to receive settlement funds, which are expected to go out in the first half of 2019.
If the settlement is approved by a judge, lawyers say the settlement terms and claims process information will be mailed to those eligible in the class action lawsuit.
The information will also be provided to media outlets and published on SyngentaCornLitigation.com.
At the time, attorneys for Syngenta said they commercialized Viptera in full-compliance with U.S. regulatory and legal requirements.