‘After paying an original sum of $2.4 million to reimburse farmers for contaminating their fields with genetically modified wheat that had not even yet been approved for farming, Monsanto has been forced to pay another $350,000 in order to settle a class action lawsuit brought upon by numerous farmers from over seven different states.
The news comes amid economic struggles for the biotech juggernaut that have resulted in the loss of share value and poor projections for the long term future. In last year’s fourth quarter, Monsanto reported a loss of $156 million. And for the multi-billion dollar company, it’s not about the monetary figure, but the future of its genetically modified creations that the public just simply isn’t buying.’
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