First Syngenta MIR162 Payments to be Mailed
Farmers wondering where the money from the MIR162, AgriSure Viptera, settlement went will soon have their questions answered in the form of a check. The first payments to class action members will be in the mail soon.
For many farmers, their total payments for the settlement could be more than $5,000, according to a recent press release from plaintiff lawyers.
“This brings meaningful relief to a long and hard-fought battle. We are gratified that the hundreds of thousands of class members will be compensated for their losses, and we hope these payments help the many farmers who are hurting economically,” said the settlement class counsel, including Patrick Stueve, Dan Gustafson and Chris Seeger.
Starting March 20, expect interim payment checks to include:
- 65% of producer and landlord settlement amount
- 50% of grain handling and ethanol production facility settlement amount
The rest of the settlement is expected to be delivered this fall, when all claims are processed.
Processing the settlement and getting checks sent is a product of discussions between plaintiff attorneys and judges. After the settlement was decided, Syngenta had no part in discussing distribution strategies.
To receive payments, farmers or processors needed to submit certain forms. These forms include payment documents, such as W-9 forms. You will not receive a payment until a W-9 form is received.
Payments are part of a larger $1.51 billion settlement related to Syngenta’s marketing Viptera and Duracade-traited corn seed. Certain corn shipments to China were rejected in 2013, as a result of the presence of the then-unapproved traits. Plaintiff lawyers said this lead to a decline in corn market prices.
This is believed to be the largest ag settlement in U.S. history.
Get the full story:
Syngenta Settlement Nears Payout
Syngenta Settles MIR162 Case for $1.51 Billion
