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Monsanto Pays 93 Million to Victims in Settlement

loveisthewateroflife:

deus—ex-machina:

Monsanto tentatively agreed to a $93 million settlement with some residents of Nitro, West Virginia. Nitro is a small town that got its name from manufacturing explosives during WWI.  It was also the site of a Monsanto chemical plant that manufactured 2,4,5-T herbicide that was half of the Agent Orange recipe. Herbicide 2,4,5-T was contaminated with the caustic by-product dioxin. This settlement may open the floodgates to successfully suing Monsanto for its poison.

Nitro Settlement

Herbicide 2,4,5-T was phased out in the late 1970′s. Dioxin is the most dangerous chemical known and has a 100 year half-life when leached into soil or embedded in water systems. The Veteran’s Administration recognizes and pays out on Agent Orange injury claims that include cancer, birth defects in children of exposed victims, leukemia, liver disease, heart disease, Parkinson’s Disease, diabetes and chloracne.

Despite an explosion in the Nitro plant in 1949, not a single penny has been paid to residents of Nitro for dioxin injuries, per an attorney that worked on a previous dioxin case. After 7 years of litigation, and on the heels of the EPA releasing part of its dioxin assessment report,  Monsanto has made a tentative agreement to settle a class action suit with some Nitro residents for a total of $93 million.  Here are the proposed settlement figures:

  • Medical Testing:  $21 Million
  • Additional Screening:  $63 Million
  • Cleanup of 4500 homes:  $9 Million

Bloomberg reports that this settlement will reduce Monsanto’s 2012 net income by 5 cents per share, but Monsanto may face additional lawsuits and fines. There are potentially 80,000 property damage claims alone that could cost Monsanto $3.9 billion in cleanup costs. Dioxin has contaminated soil and has been found in dust in residents’ homes at very high levels.

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