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DuPont Co. Sued for $1 Billion Over Genetic Technology
Source: http://www.bloomberg.com/news/2014-06-04/dupont-co-sued-for-1-billion-over-genetic-technology.html
DuPont Co. (DD), the maker of Pioneer genetically modified corn, was sued for $1 billion by an investment fund that claims company directors promoted herbicide-resistant crop traits knowing they didn’t work.
The Ironworkers District Council of Philadelphia & Vicinity Retirement & Pension Plan contends that some past and present DuPont directors wasted corporate assets and fraudulently promoted a specific gene trait, known as GAT, in a Delaware Chancery Court lawsuit made public today.
Before filing the suit, plaintiff’s lawyers issued a legally defined “demand” on DuPont’s board “to investigate and commence an action” against directors and executives, court papers show.
Source: http://philosophers-stone.co.uk/wordpress/2014/06/dupont-co-sued-for-1-billion-over-genetic-technology/
