Monsanto Pays $80m Penalty

Monsanto Company agreed to pay an $80 million penalty and retain an independent compliance consultant to settle SEC charges that it violated accounting rules and misstated company earnings relating to Roundup. An SEC investigation found that Monsanto materially misstated its consolidated earnings in public filings over three years because it did not have sufficient internal accounting controls to properly account for millions of dollars in rebates offered to retailers and distributers of Roundup after generic competition undercut Monsanto’s prices and resulted in a significant loss of market share for the company. Click here to read more.