Syngenta

China was a large and growing export market.

It was the top corn destination in 2013-2014 and was predicted by the USDA to be our largest export market for corn by 2020.

U.S. corn exports to China plunged 87% in the first nine months of 2014 compared with the year prior.

Corn futures prices have dropped around 14% this year as expectations of another record U.S. crop grew.

The Syngenta Viptera Corn lawsuit alleges that Syngenta knew, or should have known, that its MIR162 seed would cripple the nation’s corn market because of the industry’s inability to sell in Chinese markets, one of our largest agricultural trade partners.

The Syngenta lawsuit also alleges that rather than waiting for China to approve Viptera corn, Syngenta “pushed its product on farmers” to enhance its profit margins, which totaled $875 million in 2013.

Syngenta did so without making it apparent that farmers and agricultural entities would be unable to participate in Chinese markets.

According to a case study from the National Grain and Feed Association, the estimated total loss to the industry from trade disruption over the Viptera corn was $1 billion to $2.9 billion.

In September 2016, Judge John W. Lungstrum, U.S. District Judge of the District of Kansas, certified a nationwide class-action status for the Syngenta lawsuit.

An additional eight state class action lawsuits were also certified into multi-district litigation.

These lawsuits include any businesses that were affected by the dramatic shift in corn prices – the plaintiffs are suing Syngenta for their negligent actions that resulted in the negatively shifted corn pricing.