G M Beard

GM rice case reportedly settled for $750 million

A $750-million-dollar legal settlement has been reached between Germany-based Bayer AG and its affiliates and U.S. rice farmers. This settlement relates to legal actions filed beginning in 2006 in response to contamination of the U.S. rice supply by Bayer’s experimental and unapproved genetically modified Liberty Link rice.

Bayer has agreed to pay up to $750 million in damages to U.S. rice farmers, plus all administrative costs. This settlement is in addition to previous settlements in which Bayer has already agreed to pay to some plaintiffs in the litigation, which include farmers, rice exporters, rice importers, rice mills and rice seed dealers.

Background

In August 2006, the USDA announced that Bayer’s genetically modified LibertyLink rice was found in the U.S. long-grain rice supply, including two of the most popular rice seed varieties, Cheniere and Clearfield 131. Discovery of the contamination led to a dramatic drop in U.S. rice prices, as the European Union stopped purchasing U.S. rice. Even today, the European Union’s purchases of U.S. rice are only a small fraction of what they were before the 2006 GM discovery.

The first lawsuit on behalf of U.S. rice farmers was filed in September 2006. As more federal lawsuits were filed, they eventually were combined and sent by the Judicial Panel on Multidistrict Litigation to the Honorable Catherine D. Perry, United States District Judge for the Eastern District of Missouri. Judge Perry, since December 2006, has presided over the litigation, which has grown to now include thousands of rice producers and dozens of other types of businesses that have sued Bayer.

Six trials involving farmers have gone to verdict. In all six trials, the juries returned a verdict in favor of the farmers and against Bayer. Millions of dollars have been awarded by the juries in compensatory damages, and two juries also awarded punitive damages.

Settlement Terms

Attorney Don Downing of the St. Louis law firm Gray, Ritter & Graham, and Adam Levitt of the Wolf Haldenstein Adler Freeman & Herz law firm in Chicago, are the court-appointed co-lead Plaintiff’s counsel in the multi-district litigation in U.S. federal court. Downing also was the lead trial lawyer in the three bellwether trials conducted in federal court, and led the negotiations with Bayer on behalf of the farmers. Downing and Levitt announced the global settlement terms today.

NBA Trade Alert: Omri Casspi headed to ... - The Beard And Stache

J.J. Hickson was arguably the Cavaliers’ best player last season on any given night. But coach Byron Scott and General Manager Chris Grant obviously grew tired of guessing when that given night might be.

Hickson’s athleticism and potential made him a budding NBA star. His inconsistency made him maddening and expendable. On Thursday, the Cleveland Cavaliers decided it was time to cut the cord and move on without him.

Hours before the NBA announced it would lock out its players, the Kings and Cavaliers made a deal to shape their rosters for next season.

The Cleveland Cavaliers traded the enigmatic Hickson to the Sacramento Kings for forward Omri Casspi and a future first-round pick on Thursday. The first-round pick they obtained is lottery protected in 2012 (Nos. 1-14). The pick is then protected in 2013 (1-13), 2014 (1-12) and 2015-2017 (1-10). If the pick is not conveyed by 2017, then Sacramento will relinquish its own 2017 second-round pick to the Cavaliers.

Let’s take a look at how the deal worked out for both teams – we’ll start with Cleveland.

Hickson’s days in Cleveland were numbered when the club drafted Texas forward Tristan Thompson with the No. 4 overall pick in last week’s NBA draft.

In terms of his leaping ability, Hickson might have nearly rivaled that guy who moved to South Beach and has become better known by many in Cleveland as Art Modell 2.0.

But with the NBA’s collective bargaining agreement set to expire at midnight, the trade was the right move for the Cavs for several reasons.

It helped to clear up the mess at power forward with Antawn Jamison, Samardo Samuels and Tristan Thompson. Hickson would have eaten into the minutes of fourth-overall pick Thompson, and the Texas product needs all the experience he can get if his rookie season isn’t canceled by labor woes.

The undrafted Samuels might turn out to be no more than a backup, but the Cavs need to find out for sure. At age 35, Jamison knows how to get his 20 points per night if healthy. At this point in his career, he seems more like insurance if Thompson and Samuels struggle.

It also made sense for the Cavs’ financially. The 19th overall pick in 2008, Hickson was entering the final year of his contract next season and might have commanded $8 million to $10 million per year on the open market.

But it was also about consistency, the hallmark of NBA professionalism. The quintessential Hickson might have come in last season’s stunning opening victory over the Boston Celtics. Hickson poured in 10 first-quarter points, went scoreless in the second quarter and finished with 21.

Mind

MIND A QUARTERLY REVIEW OR PSYCHOLOGY AND PHILOSOPHY

Half-yearly compendium of medical science, a synopsis of the American and foreign medicine, surgery, and the collateral sciences

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