Corn Industry Lawsuits
Protect Your Right to a Recovery of Lost Profits: (888) 273-1045
Corn elevator operators and others in the U.S. corn industry have suffered billions of dollars in losses due to Syngenta’s wrongful induction of genetically modified corn seed into the market. The GMO seeds – Agrisure Viptera® MIR162 and Agrisure Duracade™ 5307 – were introduced by Syngenta without the necessary approvals for international import, and were rejected by numerous countries. The export ban and subsequent market crash led to devastating losses in the corn industry, including decreased DDGS prices and deep cuts to operators’ bottom lines.
If you have suffered financial losses in the corn industry due to Syngenta’s reckless conduct and the rejection of GMO corn, you may be entitled to monetary compensation. Our legal team at The Daspit Law Firm is actively accepting cases from corn elevator operators, farmers, exporters, investors, and others in the corn industry who wish to pursue a recovery of their lost profits, and can help you learn more about your rights during a FREE consultation.
Why Choose The Daspit Law Firm?
- Millions in Compensation Recovered
- Decades of Combined Experience
- No Fee Unless We Win
- 24/7 Availability
Discuss your case and rights during a FREE consultation. Call (888) 273-1045 to get started.
Syngenta’s Reckless & Intentional Conduct
Because Syngenta failed to take reasonable steps in securing necessary international approvals for its products, corn shipments containing even a trace of the unapproved GMO traits were rejected or destroyed when exported to China – our country’s third largest corn export partner. Following the rejection by China, 68 other countries also rejected U.S. corn shipments containing any trace of the MIR162 genetic trait, creating a near-complete export ban of U.S. corn beginning in November 2013 until December of 2014, when China finally approved MIR162 for export.
The damaging effects of the export ban devastated the corn industry market in numerous ways:
- Syngenta’s conduct destroyed much of the export demand for U.S. corn to China, even following the approval of MIR162 in December of 2014.
- Wrongful marketing led to plummeting corn prices and a corn carryout oversupply, which significantly narrows basis trading margins and profits per annual thruput bushel.
- Statistical analysis from the International Monetary Fund indicate Syngenta’s market shock may persist for five to eight years.
- Even businesses in the corn distribution chain that did not use Syngenta GMO corn seeds, as well as businesses that grew soybeans (China also rejected soybeans with traces of MIR162), have been adversely affected by the drop in price per bushel and market crash.
In addition to immediate losses following export rejection, operators in the corn industry have suffered, and will continue to suffer, significant financial losses due to Syngenta’s reckless and intentional conduct. Fortunately, farmers, operators, investors, and others in the industry have the right to pursue legal action against Syngenta and seek a financial recovery of their losses. Because Syngenta is a global conglomerate with the firepower to defend against high-value claims and lawsuits, these cases demand the assistance of proven attorneys who possess the experience and resources to helped wronged businesses fight back.
Act Now to Make Your Claim for Lost Profits. Call (888) 273-1045
Syngenta made a devastating and harmful decision when it negligently rushed its unapproved GMO seeds into the U.S. corn supply, even after it had been warned repeatedly not to do so by industry organizations, including the National Grain and Feed Association (NGFA) and the North American Export Grain Association (NAEGA). Now, Syngenta must be held accountable for the billions of dollars in losses it caused farmers and operators in the corn distribution chain. The agribusiness should also be held liable for punitive damages due to its egregiously reckless conduct and extensive losses caused to all businesses involved in corn production and distribution, regardless of the seed they used.
The Daspit Law Firm is working closely with legal and corn industry experts to help businesses protect their right to a full and fair recovery of their damages. If you are involved in the corn industry and would like more information about your rights and how we can help you navigate the legal process ahead, do not hesitate to contact us for a FREE consultation.