The biotech juggernut is at it again, but this time is receiving resistance from farmers and environmentalists who are done with their dirty dealings. After paying an original amount of $2.4 million to reimburse farmers for contaminating their fields with genetically modified wheat that not yet been approved for farming, Monsanto has now been forced to pay another $350,000 in order to settle a class action lawsuit brought against them by numerous farmers from over seven different states.
The positive news comes at a time when Monsanto reportedly is struggling financially. The loss of share value and poor projections for the long term future caused a reported loss of $156 million in last year’s fourth quarter. And for the multi-billion dollar company, it’s not about the monetary figure, but the future of its genetically modified creations that the public just simply isn’t buying.
The latest legal settlement is evidence that Monsanto can no longer pay off farmers when it comes to international trade. Following the news that GMO wheat had contaminated nearby wheat supplies, Japan and South Korea suspended a number of wheat orders from the United States. This was a huge blow towards the national economy in full thanks to Monsanto.
And the EU has also declared its had enough, announcing it will be enacting much more serious testing in its wheat shipments to ensure that they are GMO-free. As for Monsanto in the United States? There will be no more rigorous testing or suspension of wheat supply. Instead, the company has only to pay off the farmers that were affected (and potentially devastated) by the genetic contamination.
As reported by NBC News:
“Genetically-modified food giant Monsanto said it will pay about $350,000 to settle class action lawsuits brought by farmers in seven states over tainted wheat. It will also reimburse the plaintiffs’ and their lawyers for a portion of the costs associated with the case. The company said that under the terms of the settlement agreement it can’t disclose how much that will cost.
The lawsuits relate to the discovery of genetically modified wheat on a farm in Oregon in May 2013. The wheat had not been approved, and after the discovery, Japan and South Korea temporarily suspended some wheat orders. The European Union called for tougher testing of shipments from the U.S.”
Keep in mind, this is after the company already paid out $2.4 million to settle with farmers in the Pacific Northwest for the same contamination style problem. On a positive note, these happenings are causing people all around the world to finally wake up and realize the brutal truth(s) about Monsanto.
Nations everywhere are rallying against the corporate giant, with Germany and others now pushing GMO bans before the next harvest. In the US, the fight is also ramping up. States like Maine are introducing legislation to take immediate action against GMOs, making it abundantly clear that the 96% of US citizens who say they are in favor of GMO labeling may finally get what they have been asking for.
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