Rubicon's ArborGen settles with ex-employees, avoids US$53 mln payout

Wed, 23 Mar 2016

By Sophie Boot March 24 (BusinessDesk) - American seedling company ArborGen, which is part-owned by NZX-listed forestry biotech company Rubicon, has settled with nine former employees for an undisclosed sum, avoiding having to pay US$53 million in damages and costs. Rubicon, which owned 32 percent of ArborGen as of June last year, said a South Carolina court had granted the defendants' motion to dismiss its previous judgement. In December, that court awarded the plaintiffs US$43 million in damages and US$10 million in interest and costs....

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