Friday, January 15, 2010

Justice Department is investigating Monsanto

On the heels of our item yesterday, the Justice Department has officially launched a formal antitrust investigation of Monsanto. Yesterday the department presented the St. Louis-based chemical and seed firm with a formal demand for information on its "business practices surrounding its Roundup Ready soybean, the nation's most popular genetically modified crop," Scott Kilman and Thomas Catan of The Wall Street Journal report.

The department's inquiry appears to mirror calls from Monsanto rival DuPont Co. for a nationwide series of hearings hosted by the Justice and Agriculture departments to listen to farmers' competitive concerns, the reporters write. Monsanto said in a statement, "We respect the thorough regulatory process. We believe our business practices are fair, pro-competitive and in compliance with the law." (Read more)

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