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| Pioneer Hi-Bred files suit against Wisconsin firm for theft of proprietary germplasm |
| Johnston, Iowa July 30, 1998 Pioneer Hi-Bred International, Inc. (NYSE: PHB) announced today that it has filed suit against American Ag-Tec International, Ltd. for violation of intellectual property rights under the Plant Variety Protection Act of 1970 and the Wisconsin Statute 134.90 regarding trade secrets, and for patent infringements. This suit was filed in U. S. District Court, Eastern District of Wisconsin on June 29, 1998. This claim alleges that American Ag-Tec has wrongfully acquired germplasm belonging to Pioneer Hi-Bred and is producing parent and hybrid seed corn in the U.S. for export to Europe and Asia. Pioneer Hi-Bred seeks an injunction against Ag-Tec on continued infringement, damages for losses and reimbursement of all gains and profits derived from Pioneer germplasm. "Pioneer is committed to aggressively protecting our germplasm everywhere in the world," said Jeanne Foster, attorney for Pioneer Hi-Bred. "Using DNA fingerprinting, we have identified lines of Pioneer germplasm which we believe may be present in the products of companies currently in joint ventures with Ag-Tec." Over the past five years, Pioneer Hi-Bred has invested more than one billion dollars in genetic research, delivering growers higher yielding, disease and pest-resistant corn hybrids. "If companies like Pioneer, making investments in genetic improvements, allow such assets to be taken without compensation, it is our customers, stockholders and employees who will suffer," said Foster. "That's why we will pursue this case and all intellectual property cases to the fullest extent possible." Pioneer Hi-Bred International, Inc. is the world's leading supplier of agricultural genetics and is the leading integrator of agricultural technology. Headquartered in Des Moines, Iowa, Pioneer develops, produces, and markets a full line of seeds, microbial products, and services to farmers, grain processors, and other customers worldwide. N1180 |
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