Monsanto Need Not Pay Award, Court Says

Monsanto Co. said it will not have to pay $174.5 million to seed producer Mycogen in a plant gene technology dispute, after a ruling by the California Supreme Court.

“We’re delighted that [the court] has concluded that the jury award was improper and that this litigation is at an end,” said Robert Fraley, chief technology officer for Monsanto. Mycogen is a subsidiary of Dow Chemical Co.

Shares of St. Louis-based Monsanto rose $1.39, or 9%, to $17.34 on the NYSE.