Settlement reached in Syngenta lawsuit pending judge's approval - KTTC Rochester, Austin, Mason City News, Weather and Sports

Settlement reached in Syngenta lawsuit pending judge's approval

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Tuesday ushered in a major development for corn farmers and ethanol producers who had sued Swiss agribusiness firm, Syngenta.

Syngenta had introduced a genetically-modified corn seed in 2011.

With corn such a huge cash crop in our area, this has been important to a lot of our farmers.

Syngenta marketed GMO corn seed before getting approval from China, which had been buying a lot of corn from our region.

Producers sued Syngenta after China refused to buy corn grown from their GMO seed.

The decision in Beijing caused prices to drop for a number of years.

Now, a $1.5 billion dollar settlement was reached in the class action lawsuit.

It still must be approved by a federal judge to take effect.

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