A Bushel of Soybeans
IN PHOTO: Soybeans are shown on display in the Monsanto research facility in Creve Coeur, Missouri, July 28, 2014. REUTERS

Maurice Blackburn issued a statement on Monday and said the funds would be placed in an account and then distributed to the class action participants. Class action participants are relieved after years of fighting the case. According to Jacob Varghese, class action principal, this so far is the highest settlement of a food safety class action in Australia's history.

The plaintiffs claimed that they have suffered serious health side effects after drinking certain amounts of Bonsoy. Cases of miscarriages, heart palpitations, unconsciousness, muscular dysfunction and severe thyroid problems were attributed to consumption of this milk product.

In 2010, nearly 500 people filed a class action suit against the Bonsoy distributor, Spiral Foods and two Japanese corporations- Muso Co Ltd, the exporter and Marusan-ai Co Ltd, the manufacturer. Maurice Blackburn, a renowned law firm, brought the case to Victorian Supreme Court.

Back then, the soy milk contained the seaweed Kombu. This ingredient increased the amount of iodine 50 times the recommended daily consumption making the nutritious drink toxic. In late 2009, Spiral Foods voluntarily recalled and reformulated the product.

The defendants did not accept accountability in the case. No formal court finding was made against them either. Nevertheless, a spokesperson for Spiral Foods stated that the company is pleased with the mutual settlement that has been reached with the plaintiffs.

The class suit participants find the results favourable. Some would even recall the ordeal they have been through after drinking Bonsoy. It was a tough battle, but they stood up for what they know is righteous and just.

Erin Downie, one of the class action participants said, "I've been through a lot due to drinking Bonsoy, and so have hundreds of others all over Australia. Today means a lot because we've been able to get a result that tells us we were right to stand up to the companies involved, despite it being a long, tough road."