A suit filed by the American Corn Growers Association claims that Monsanto Co.'s pricing of products containing glyphosate, the key ingredient in Roundup herbicides, violates federal and state antitrust laws.
The corn growers group, which represents corn producers in 35 states, filed the suit Wednesday afternoon in the U.S. Court for the District of Delaware. The suit does not seek monetary damages but calls for Monsanto to be forced to stop "anticompetitive practices."
According to the suit, those practices include a monopoly and restrained competition in the market for glyphosate herbicides and "supra-competitive pricing" on those herbicides. The association's spokesman, Larry Mitchell, told Dow Jones Newswires, "this is not about being antitechnology. We want to use more of the technology. We just need to have it affordable."
Monsanto spokeswoman Lori Fisher says the company disagrees and will defend itself. She also says the complaints seem to recycle allegations that the Department of Justice previously determined not to have any merit.
Powered by iNet Solutions Group ©2011 All Rights Reserved.