Bayer Settles Rice Contamination Suits For $750M

Law360, New York (July 1, 2011, 8:12 PM EDT) -- Bayer AG said Friday that it will pay $750 million to settle a sprawling mass of long-running litigation brought by more than 10,000 rice farmers who claim Bayer's genetically modified rice contaminated their crops, destroying their right to export to Europe.

The settlement will resolve suits pending against Bayer's CropScience unit in state and federal courts, including a multidistrict litigation in the Eastern District of Missouri, the company said. Rice growers have 90 days to submit their claims to the company.

“Although Bayer CropScience believes it...
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