Monsanto vs. DPL
Nov 1, 2004 12:00 PM
Astate circuit court in Clarksdale, MS, has granted Monsanto Company's request for partial summary judgment in a lawsuit brought by Delta and Pine Land (DPL) Company. If it stands up to appeal, the ruling eliminates a key element of DPL's damage claim against Monsanto.
DPL sued in January 2000 when Monsanto withdrew its filing for approval of the proposed merger with DPL in light of the U.S. Department of Justice's unwillingness to approve the transaction on commercially reasonable terms. DPL was seeking unspecified compensatory damages from Monsanto, including lost stock market value of approximately $1 billion.
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