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Settlements, News, Class Actions, Commercial Litigation
Plaintiffs Seek Preliminary Approval of $1.51 Billion Settlement With Syngenta
Ridgefield Park, N.J. – Today plaintiffs, in the litigation against Syngenta related to its marketing and commercialization of Agrisure Viptera and Agrisure Duracade corn seeds, filed a motion for preliminary approval of a settlement with Syngenta before the United States District Court in the District of Kansas (MDL no. 2591).
The settlement with Syngenta was reached in September of 2017 and finalized on February 23, 2018. The terms of the settlement were agreed upon only after years of hard fought litigation and negotiations between Syngenta and various plaintiff groups. If the settlement is approved, Syngenta will contribute $1.51 billion dollars to a settlement fund that would be used to make payments to be allocated among eligible corn farmers, grain handling facilities and ethanol production facilities who fall within the settlement class and to cover the costs of administering the settlement, including any court-approved award of fees to plaintiffs’ counsel, in exchange for a classwide release of all claims against Syngenta related to the launch of Agrisure Viptera and Agrisure Duracade. The $1.51 billion dollar settlement will resolve thousands of pending cases against Syngenta. The settlement does not constitute an admission by either side concerning the merits of the parties’ allegations and defenses.
If preliminary approval is granted, plaintiffs’ lawyers will begin notifying potential claimants about the settlement and how to submit a claim for compensation. The amount received by any individual claimant will vary depending on the individual claimant’s farming, grain handling, or ethanol production operations and will be determined through a claims process.
Plaintiffs are pleased with the settlement and look forward to the Court granting preliminary approval so next steps can be communicated to corn farmers and others eligible for compensation.
Seeger Weiss partner Chris Seeger served as a court-appointed member of the Plaintiffs’ Settlement Committee and Stephen Weiss served as a member of the Plaintiffs’ Executive Committee. Seeger and Weiss were accompanied in their efforts by partner Dion Kekatos, who was centrally involved in the multidistrict litigation and settlement briefing.
Read the full press release here.