Monsanto hit with record fine for illegally distributing seeds

Agriculture behemoth Monsanto has been fined by the US Environmental Protection Agency for not putting on the right labels and then illegally distributing cotton seed products containing genetically engineered pesticides. It's a record fine.

The big concern is that these bad seeds can lead to pest resistance. And in China, Monsanto has produced a strain of cotton that's been associated with a plague of pests.

Monsanto has form in creating disasters, a few of which are listed by the Green Chip Stocks blog. These include being named in the $180 million suit for Vietnam War vets exposed to "Agent Orange", getting fined $1.5 million for bribing Indonesian officials in order to get their Bollgard cotton seeds approved without having to prove their environmental safety and a $100 million settlement for exposing a Texas worker to benzene which eventually led to his death from leukemia.

With that sort of track record, you can see that a $2.5 million fine is just small change.


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