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Iowa Part of Settlement with Corteva over Loyalty Program
The agreement ends Corteva loyalty programs that allegedly blocked generic rivals and kept farmers paying millions more for crop protection products.
- On Monday, Illinois Attorney General Kwame Raoul and the Federal Trade Commission announced a $35 million settlement with Corteva Inc. resolving allegations the company used loyalty programs to inflate pesticide prices for farmers.
- The agreement resolves a 2022 lawsuit alleging Corteva implemented loyalty programs that paid distributors to block cheaper generic products, allowing the company to maintain monopoly power and inflate prices for American farmers.
- For 10 years, the order prohibits Corteva from conditioning payments on distributors purchasing more than 50% of their pesticide requirements from the company or threatening customers who conduct business with generic competitors.
- According to Iowa Attorney General Brenna Bird, Iowa will receive approximately $2.4 million from the settlement, while a separate FTC lawsuit against Syngenta Crop Protection regarding similar anticompetitive practices remains ongoing.
- FTC Bureau of Competition Principal Deputy Director David Shaw stated the settlement removes "unfair corporate practices that have hurt farmers," aiming to lower pesticide costs and restore market competition for consumers.
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Illinois Quick Hits: Pesticide manufacturer settles with FTC, states - Regional Media News
(The Center Square) - The Federal Trade Commission, Illinois and 11 other states have reached a $35 million settlement with pesticide manufacturer Corteva. A statement from Illinois Attorney General Kwame Raoul said the agreement would lead to lower pesticide prices for farmer in Illinois and [...]
Iowa part of settlement with Corteva over loyalty program
Attorney General Brenna Bird says the pesticide company Corteva has agreed to a $35 million settlement in a multistate case. The Federal Trade Commission and states sued Corteva for conducting a loyalty program that the lawsuit says violated monopoly laws and illegally limited the sale of generic, less expensive competing pesticides. It says that raised […]
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Total News Sources20
Leaning Left4Leaning Right2Center7Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 31%
C 54%
15%
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