EDITOR’S NOTE: See a fuller report here:
Plaintiffs and defendants in the Syngenta MIR 162 Corn Litigation have reached a pending settlement to resolve litigation concerning the launch of Syngenta’s Agrisure Viptera and Agrisure Duracade corn traits, according to a press release issued today.
The settlement, which is subject to court approval, would establish a settlement fund for the submission of claims by eligible claimants who contracted to price corn or corn by-products after September 15, 2013, the release specified.
“Information concerning the settlement fund, claims process and other details will become available after the parties execute and submit the proposed settlement agreement and other papers to the court later this year,” the release said.
“The proposed settlement would allow both sides to avoid the uncertainty of ongoing litigation. The settlement does not constitute an admission by either side concerning the merits of the parties’ allegations and defenses.”