Fri February 24, 2012
Monsanto Agrees To Pay Up $93 Million In Agent Orange Settlement
We are getting more details about that preliminary agreement to settle an "Agent Orange" related class-action lawsuit filed against the Monsanto Company. We reported yesterday that Monsanto agreed to settle a case over pollution claims made on behalf of current and former residents of the small town of Nitro, West Virginia.
In a written statement today Monsanto says it's agreeing to pay up to $93 million dollars. $84 million of that would go toward medical monitoring for residents ($21 million up front and up to $63 million over 30 years). The company also is agreeing to spend up to $9 million to professionally clean homes in the affected area, which includes an estimated 4500 houses.
Putnam Circuit Court Judge Derek Swope will now give the agreement a thorough review before giving the deal his final approval.