The judge also ruled that the claimant, Scott Meredith, an Arkansas rice grower, must pay his outstanding debt, plus interest, attorney fees and court costs, to RiceTec for seed he purchased from RiceTec in 2009, and an order to that effect is expected shortly.
"As families across the country sit down together this week to celebrate a uniquely American holiday, RiceTec is thankful for the productive and successful relationships we've enjoyed with farmers across the Southern Rice Belt," said John Nelsen, RiceTec president. "Fall is the time to plan the crop for the next season, and we are working alongside growers to help them plan and cultivate a successful rice crop next year."
Over the past five years, RiceTec has invested more than $75 million in research, product development and customer support to ensure that American rice farmers have viable product choices to grow and that domestic and international consumers have a sustainable supply of rice for their tables.
In the next five years, Nelsen said that RiceTec plans to invest another $130 million to develop even more advanced rice seed products.
"RiceTec has set the standard for lowering the carbon footprint for rice production while developing higher-yielding, more disease-tolerant, top-quality hybrid rice plant that has proven itself on the American farm, and we will continue to do so," he said.