Received settlement of more than $600,000
By Diego Flammini
Assistant Editor, North American Content
The Missouri Soybean Merchandising Council (MSMC), along with the Mid-America Research and Development Foundation (MRDF), won a joint legal proceeding against AgBorn Genetics LLC, and was awarded a settlement of $602,945.
The decision, reached by a unanimous jury, found that MSMC and MRDF were entitled to the settlement “based on royalties owed for undisclosed and unreported sales of MSMC’s soybean seed technologies and for unpaid and bounced royalty checks issues by AgBorn Genetics.”
Members of the MSMC feel the victory is a crucial one for soybean producers in the state.
“This is such an important case for soybean farmers,” said Missouri Soybean Merchandising Council chairman and Lafayette County soybean farmer David Lueck. “We take our responsibility to manage growers’ soybean checkoff dollars very seriously and will continue to take any necessary steps to ensure farmers receive the benefit of their investments in the checkoff. There’s no excuse for anything less.”
Todd Rowden, the attorney representing the soybean farmers, told the Kansas City Star once court costs and interest is included, the settlement could be worth closer to $1 million.