By: Joan E. Solsman
Source:http://online.wsj.com
DuPont Co. (DD) filed a patent-infringement suit against Monsanto Co. (MON).
In a brief statement, Dupont alleged Monsanto violated its patent for a seed production technique, one that "increases seed corn vigor to improve germination under stress." The suit was filed in the Southern District of Iowa.
Later Tuesday, Monsanto called the suit baseless and said it "appears to be another in a series of frivolous claims initiated by DuPont." It said the complaint relates to defoliating corn plants with herbicides Paraquat or Roundup, an approach not used in any Monsanto production fields. Monsanto said that it believed the lawsuit wouldn't have any practical effect on current or future business and that it would defend itself from the attack.
Rivals Monsanto and DuPont are no strangers in the courtroom. Since 2009, they have been embroiled in litigation over DuPont's genetically modified soybean seed Optimum GAT, with Monsanto claiming DuPont violated its patent and DuPont countering with a suit on antitrust grounds.
A DuPont spokesman said later Tuesday that the latest suit is unrelated to the soybean dispute.
DuPont shares were down 0.8% at $44.61 in after-hours trading. Monsanto's closed Tuesday up 2.8% at $74.53. While DuPont's stock has fallen 9.8% this year through the close, Monsanto's has risen 7%.
Source: http://online.wsj.com/article/BT-CO-20111018-716867.html
Source:http://online.wsj.com
DuPont Co. (DD) filed a patent-infringement suit against Monsanto Co. (MON).
In a brief statement, Dupont alleged Monsanto violated its patent for a seed production technique, one that "increases seed corn vigor to improve germination under stress." The suit was filed in the Southern District of Iowa.
Later Tuesday, Monsanto called the suit baseless and said it "appears to be another in a series of frivolous claims initiated by DuPont." It said the complaint relates to defoliating corn plants with herbicides Paraquat or Roundup, an approach not used in any Monsanto production fields. Monsanto said that it believed the lawsuit wouldn't have any practical effect on current or future business and that it would defend itself from the attack.
Rivals Monsanto and DuPont are no strangers in the courtroom. Since 2009, they have been embroiled in litigation over DuPont's genetically modified soybean seed Optimum GAT, with Monsanto claiming DuPont violated its patent and DuPont countering with a suit on antitrust grounds.
A DuPont spokesman said later Tuesday that the latest suit is unrelated to the soybean dispute.
DuPont shares were down 0.8% at $44.61 in after-hours trading. Monsanto's closed Tuesday up 2.8% at $74.53. While DuPont's stock has fallen 9.8% this year through the close, Monsanto's has risen 7%.
Source: http://online.wsj.com/article/BT-CO-20111018-716867.html
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