Bayer CropScience has reached settlement agreements with attorneys representing U.S. long-grain rice growers in the biotech rice litigation. Bayer CropScience will pay up to US$750 million to resolve claims submitted by growers. The settlement program is open to all U.S. farmers who had been growing long-grain rice during the period 2006 through 2010.
Settlement agreements have been reached with two groups of lawyers. One agreement involves those cases that are a part of the federal multi-district litigation; the other involves those cases in state courts.
The settlements are contingent on the participation of a sufficient number of growers to represent at least 85 percent of U.S. long-grain rice acreage. Bayer has already established appropriate provisions for the settlement program.