(Bayer)
-- Bayer CropScience is pleased to announce that the settlement agreements
with U.S. long-grain rice growers in connection with the biotech rice litigation
have taken effect. A sufficient number of now-verified registrations for the
settlement program have been filed by growers to represent 85 percent of U.S.
long-grain rice acreage, a threshold point established for the agreements to
become binding.
As agreed to in the settlements, Bayer CropScience
will pay up to USD750 million to amicably resolve claims submitted by growers.
The settlement program was available to all U.S. farmers who had been growing
long-grain rice during the period of 2006 through 2010.
Bayer CropScience regards the inclusion of all long-grain rice growers in
the settlement program, whether they had filed a lawsuit or not, to be crucial
to demonstrating the company’s long-term commitment to rice, which remains an
important crop for Bayer CropScience throughout the world.
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