Monsanto is one the most controversial large companies today. I would go as far to say that chemical and seed companies are the new big tobacco in terms of public opinion.
Whether or not they deserve this public wrath is up for debate, but they just reached an awfully interesting settlement.
Basically, about 10 years ago Monsanto came up with a GMO wheat that the government rejected. They essentially said no you can’t grow that. That was in 2004, but that same banned wheat was found growing on farms in Oregon, Idaho, and Washington in 2013.
The federal government launched a full investigation and what they found ended up costing Monsanto $2.4 million.
The payments will go the farmers who have been affected by this.
The oddest part is that Monsanto agreed to pay up, but claimed that they didn’t do anything wrong. Apparently, the federal government disagreed.
Monsanto’s profits are a bit of a black box.
It’s safe to say the $2.4 million payout won’t break their wallets too much though.