On March 12, 2018, plaintiffs in the litigation against Syngenta related to its marketing and commercialization of Agrisure Viptera and Agrisure Duracade corn seeds, filed a motion for preliminary approval of a settlement with Syngenta before the Honorable John W. Lungstrum, a United Stated District Court Judge in the District of Kansas (MDL no. 2591).
A preliminary settlement framework with Syngenta was reached in September 2017 and the settlement was finalized on February 23, 2018. The terms of the settlement were agreed upon only after years of hard fought litigation and negotiations between Syngenta and various plaintiff groups. If the settlement is approved, Syngenta will contribute $1.51 billion to a settlement fund that would be used to make payments to be allocated among eligible corn farmers, grain handling facilities and ethanol production facilities who fall within the settlement class and to cover the costs of administering the settlement, including any court-approved award of fees to plaintiffs’ counsel, in exchange for a classwide release of all claims against Syngenta related to the launch of Agrisure Viptera and Agrisure Duracade. The $1.51 billion settlement will resolve thousands of pending cases against Syngenta. The settlement does not constitute an admission by either side concerning the merits of the parties’ allegations and defenses.
If preliminary approval is granted, plaintiffs’ lawyers will begin notifying potential claimants about the settlement and how to submit a claim for compensation......