We use our own and third-party cookies to optimize your experience on this site, including to maintain user sessions. Without these cookies our site will not function well. If you continue browsing our site we take that to mean that you understand and accept how we use the cookies. If you wish to decline our cookies we will redirect you to Google.
Already have an account? Sign in.

 Remember Me | Forgot Your Password?

Bayer Settles US Farmers' GM Rice Contamination Lawsuits For $750 Million

July 2, 2011: 06:41 PM EST
Bayer AG's unit Bayer CropScience agreed to pay $750 million to settle lawsuits filed by thousands of U.S. farmers who claimed that a line of the company's genetically modified (GM) rice contaminated crops and damaged their export value. Farmers suffered financial losses after rice futures declined around 14% days after the U.S. Department of Agriculture announced in August 2006 the discovery of the contamination of non-GM crops from nearby farms. Exports also slowed down as the European Union, Japan, Russia, and other anti-GM markets stopped buying or demanded testing of U.S. rice for GM contamination. Bayer has denied allegations of negligence during the GM rice test planting.
Andrew Harris and David Beasley, "Bayer Agrees to Pay $750 Million to End Lawsuits Over Gene-Modified Rice", Bloomberg, July 02, 2011, © Bloomberg LP
Food Safety
Policy & Regulation
North America
United States of America
Companies, Organizations
Legal, Legislation, Regulation, Policy
Products & Brands
Developed by Yuri Ingultsov Software Lab.