A unit of Germany's Bayer AG (BAYGn.DE) has been ordered by a court in Arkansas to pay $136.8 million to Riceland Foods over the contamination of U.S. long grain rice stocks with a genetically modified strain from Bayer that decimated exports more than four years ago.
The judgment, handed down by a jury in Stuttgart, Arkansas, includes $125 million in punitive damages to Riceland, a farmers cooperative.
Bayer said it is "disappointed" with the verdict and is considering its legal options. It said the punitive damages exceed what is permitted by Arkansas law and will therefore be limited to the statutory cap of $1 million. More...