Inquires about this please contact your Jackson Mississippi Syngenta Corn Litigation Attorneys.
Who is Syngenta? Syngenta is a Switzerland-based company and one of the world’s leading Agribusiness Companies. In 2013, Syngenta amassed $14.68 billion in revenue, and $1.649 billion in profits. Syngenta has assets totaling more than $20 billion.
Why litigation? Syngenta bioengineered a new genetically modified corn, Agrisure Viptera, containing the MIR 162 genetic trait. Syngenta then marketed and commercialized Viptera and sold this strain of corn to U.S. farmers, encouraging them to plant the seed side-by-side with other strains of corn that are accepted by our export markets. Syngenta commercialized Viptera after being expressly aware the large and growing export market for U.S. corn farmers, China, had not approved MIR 162. In fact, Syngenta sought regulatory approval that same year and knew that it was not yet approved. Syngenta was warned of the consequences of premature commercialization by the National Grain and Feed Association and the North American Export Grain Association.
What happened next? China denied corn imports from the U.S. because Agrisure Viptera had not been approved. Export shipments of corn were first denied by China in November 2013 after testing positive for MIR 162, or Viptera. When China detected this genetic trait, they stopped accepting shipments from the U.S., which subsequently caused the price of corn to plummet.
If I did not grow Viptera do I have claim? The loss of China as an export market has decreased demand for U.S. corn around the world. As a result, this caused a decrease in the market price for all U.S. corn, regardless of its variety. This litigation seeks to compensate all U.S. farmers for market losses, but more specifically those who did not grow Viptera. Thus, if you grew and sold corn – regardless of variety – on the U.S. market in 2013 and/or 2014, you may have a claim.
The Result: U.S. corn exports to China plunged 87% to 189,000 metric tons in the first nine months of 2014 compared with a year earlier, according to U.S. Agriculture Department data. Last year, the Asian nation accounted for about 15% of U.S. corn exports and was predicted by the USDA to be our largest export market for corn by 2020. The loss of this market has caused significant harm.
Will it cost me anything out of pocket? No. We work on a contingency fee contract, meaning we would be paid a percentage of any recovery. We front all costs and expenses, and if we do not recover for you then you will owe us nothing. This is a no-risk contact for the American Farmer.
Class Action vs. MDL: It is still too early to determine, but we are keeping all options open at this time. We would support a class action only if our clients could choose to opt out, or not participate, in the class. At this time, we intend to pursue damages for each individual client on a case-by-case basis. This will likely occur through an MDL, whereby the cases will be litigated and tried individually. You deserve options, and we believe this is the best way to accomplish this goal.
Who are we? We are devoted and aggressive attorneys that represent American Farmers across this country. We are attorneys who work tirelessly for the benefit of our clients. I encourage you to contact us for a free consultation. See our reviews on Google and Avvo.