China recently announced that they would begin accepting imports of U.S.
corn, which could prompt
Syngenta to settle claims over GMO corn seeds. According to lawsuits filed by corn farmers and exporters across the
U.S., Syngenta sold genetically modified corn seeds without first getting
approval from China, one of the top three importers of U.S. corn.
Call Us Today to Assess Your Potential
Cross-pollination caused all corn to be affected, prompting China to ban
all U.S. imports of corn. This dramatically lowered corn prices with implications
for hundreds of farmers, producers, and corn exporters. Consequently,
those affected filed lawsuits against Syngenta seeking damages.
Now, China has lifted that ban and has approved imports of U.S. corn. Many
lawyers believe that this latest development will compel Syngenta to pay
settlements because, according to U.S.
Agriculture Secretary Tom Vilsack, Syngenta has updated prices to reference when calculating
potential losses caused by China's initial rejection of the product.
However, Syngenta has publicly stated that they "intend to defend
[this litigation] vigorously." Syngenta might not be willing to settle
with farmers just yet, but at least now they have some incentive. For
more on this latest development, read "China approval may spur Syngenta to settle lawsuits-lawyers"in Reuters.
Every corn producer/seller has a stake in this and is potentially due financial
compensation for years 2011-2014 whether you planted Syngenta corn or
not. Call Domina Law Group and tell us about your case for more information.