WILMINGTON, Del., Aug. 1, 2012 /PRNewswire/ -- DuPont strongly disagrees with the verdict that was reached in favor of Monsanto in Monsanto's patent case against DuPont in the United States District Court in St. Louis, Missouri. There were several fundamental errors in the case which deprived the jury of important facts and arguments and led to the disappointing outcome. DuPont will appeal at the earliest possible opportunity and expects to overturn this verdict.
"DuPont believes that the evidence presented during the trial demonstrated clearly that Monsanto's Roundup Ready® soybean patent (RE 39,247) is invalid and unenforceable and that Monsanto intentionally deceived the United States Patent and Trademark Office on several occasions as it sought patent protection. Further, DuPont believes that the damages awarded of $1 billion are unjustified, particularly considering that Pioneer has never sold a single Optimum® GAT® seed and has no plans to do so in the future. DuPont's license to sell Roundup Ready® soybeans remains in place and is not impacted by this verdict," said DuPont Senior Vice President and General Counsel Thomas L. Sager.
Several aspects of Monsanto's misconduct involving this patent, which were not tried in this case, will be presented to a different jury as part of DuPont's antitrust and patent misuse case against Monsanto in September 2013.
"DuPont is and always has been committed to innovation and providing farmers with diverse technology options. We continue to stand by our position that we did not infringe the Roundup Ready® soybean patent and that the Monsanto patent is invalid. DuPont will continue to fight hard to ensure American farmers have choices and that no one company decides what is best for them," concluded Sager.DuPont has been working to deliver innovation to the agricultural marketplace for decades, to provide farmers with diverse technology options that can best satisfy their specific needs to help feed a growing world population by ensuring global food security.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV