Posted in Firm News, Product Liability on April 7, 2015
In 2011, foreign-based Syngenta Seeds, Inc. released a genetically modified corn seed known as Agrisure Viptera MIR 162. Corn farmers were led to believe Syngenta would be receiving approval from China, a major importer of American corn. During Syngenta’s first quarter 2012 earnings call, when CEO Michael Mack was asked for an update on expected timing for key import approval for VIPTERA, he responded, “On the import approval, it has import approval in all of the major markets. There isn’t outstanding approval for China, which we expect to have quite frankly within the matter of a couple of days.” Approval from China to import Agrisure Viptera MIR 162 would not be received until 32 months later.
In 2013, when China discovered the genetically-modified trait found in Syngenta’s Agrisure Viptera MIR 162 in U.S. corn shipments it immediately halted imports causing corn prices to plunge. Estimates put the resulting loss of income to the corn industry at several billion dollars.
In January 2014, the National Grain and Feed Association (NGFA) and North American Export Grain Association (NAEGA) asked Syngenta to stop selling Agrisure Viptera corn and Agrisure Duracade corn until approval had been received from China.
American farmers deserve to be compensated! If you sold corn in 2013 and 2014 contact the Law Offices of Maloney & Campolo for a free evaluation of your Syngenta Corn Seed claim.
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