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Legal Proceedings
3 Months Ended
Mar. 31, 2015
Legal Proceedings

12. Legal Proceedings— During the reporting period, there have been no material developments in legal matters that were reported in the Company’s Form 10-K for the period ended December 31, 2014. One new matter has arisen during the reporting period:

On or about March 24, 2015, Region 4 of the United States Environmental Protection Agency (USEPA) issued to registrant’s principal operating subsidiary (AMVAC Chemical Corporation) an Opportunity to Show Cause why USEPA should not take formal action under Section 3008(a) of the Resource Conservation and Recovery Act (RCRA) for potential noncompliance arising from AMVAC’s importation, transportation and storage of used, depleted Lock‘N Load containers having residual amounts of its product Thimet. AMVAC believes that these containers were properly handled and stored under, among others, the applicable provisions of the Federal Insecticide, Fungicide and Rodenticide Act relating to recycling and disposal of depleted, refillable containers (and their contents). AMVAC responded to the substance of the Show Cause letter on April 10, 2015 and requested a meeting on the matter. While violations of RCRA, if any, may carry civil penalties, it is too early in the matter to determine whether a loss is probable or reasonably estimable. Accordingly, the Company has not set up a loss contingency on this matter.