ST. LOUIS (CN) - Monsanto will pay $350,000 to settle class actions over its genetically modified wheat with farmers in Kansas, Missouri, Illinois, Oklahoma, Texas, Louisiana and Mississippi.
The lawsuits stemmed from discovery of genetically modified wheat on an Oregon farm in May 2013. The wheat had not been approved and the discovery prompted Japan and South Korea to temporarily suspend orders.
Monsanto agreed to donate $50,000 to the agricultural school at the land grant university in each state, to be used in the interests of wheat farmers and the wheat industry.
Monsanto admits no liability.
"Rather than paying the costs of protracted litigation, this agreement puts that money to work in research and development efforts for the wheat industry," Monsanto's chief litigation counsel Kyle McClain said in a statement.
In November, Monsanto settled related lawsuits for $2.4 million.
With this latest settlement, only a class action in Arkansas relating to the Oregon incident is still pending.Follow @@joeharris_stl
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