U.S. Farmers join the growing number of lawsuits against Syngenta, filing a billion dollar lawsuit against the chemical company claiming that their release of GMO corn unapproved by China, resulted in crashing the U.S. corn export prices causing farmers to lose millions. Syngenta is responsible for “destroy[ing] the export of US corn to China,” which led to “depressed prices for all domestic corn,” - Volnek Farms, lead plaintiff. Three class-action lawsuits filed Friday claim that agribusiness power Syngenta is to blame for depressed corn exports to China since the seed company released a genetically-engineered variant of the crop before it was approved by Beijing. At issue is Syngenta’s 2009 release and distribution of its MIR162 genetically-modified corn known as Agrisure Viptera, which is engineered to fend off certain insects known to decimate corn crops. While approved for use in the United States, Chinese regulators have yet to sanction the export of Viptera. Syngenta is responsible for “destroy[ing] the export of US corn to China,” which led to “depressed prices for all domestic corn,” according to Volnek Farms, the lead plaintiff in a lawsuit filed in an Omaha, Nebraska federal court. Volnek and others are claiming $1 billion in compensation. - See more at: yournewswire/billion-dollar-lawsuits-claim-gmo-corn-destroyed-us-exports-to-china/#sthash.RxnrvRxx.dpuf
Posted on: Fri, 10 Oct 2014 08:19:09 +0000