SEC Investigates Monsanto Distributor Program
According to bizjournals.com, federal regulators are investigating Monsanto over a now discontinued incentive program for distributors who sell the Creve Coeur company’s herbicide Roundup to farmers. Monsanto has received a subpoena for documents in connection with the Securities and Exchange Commission’s probe. Chairman, President and CEO Hugh Grant said this is not related to Monsanto’s genetically modified seed business but did not elaborate. The investigation covers Monsanto’s incentive program for Roundup distributors for 2009 and 2010. The incentive program was scrapped last summer as part of Monsanto’s larger restructuring of its herbicide business, which also included layoffs and price cuts.