Monsanto pays $80 million to settle accounting charges
The Securities and Exchange Commission says Monsanto didn't properly account for millions of dollars paid to distributors as rebates, which had the effect of distorting the company's earnings reports for 2009, 2010 and 2011.
The improper accounting occurred at a time when Monsanto was losing market share to competitors who sold generic herbicides for prices lower than Monsanto sold Roundup, according to an SEC statement.