Court Tosses Out DuPont Investor Claims Over Gene-Engineered Crops

DuPont Co.’s board doesn’t have to face a $1 billion investor lawsuit claiming directors were responsible for the company’s botched attempt to develop herbicide-resistant crops, a Delaware judge ruled (Ironworkers v. Andreotti, Del. C.P., CA9714, 5/12/15).

DuPont’s directors properly oversaw executives’ efforts to come up with a competing product to Monsanto Co.’s Roundup Ready line of genetically modified crops and shouldn’t be sued for wasting corporate assets on the project, Delaware Chancery Court Judge Sam Glasscock ruled May 12.

The board “acted in good faith” when refusing to acquiesce to shareholder demands that officials be held responsible ...