Monsanto a focus of U.S. antitrust investigation

ST. LOUIS — The Justice Department is investigating whether Monsanto violated antitrust rules in trying to expand its dominance of the market for genetically engineered crops, the company says.

Monsanto (MON) has provided interviews and documents to the Justice Department over the past two months, company spokesman Lee Quarles said. He said the department has questioned Monsanto about its marketing tactics in the biotech seed industry, which have become a target of criticism.

Quarles said Monsanto has done nothing illegal and is cooperating with the investigation.

"We definitely stand behind our business," he said.

The department's investigation of Monsanto is part of a previously announced inquiry into consolidation in the seed industry. The department is looking into Monsanto's licensing agreements with seed companies. [Read More]