Monsanto will pay an $80 million penalty and several executives will pay smaller amounts to settle federal allegations that the agribusiness giant misstated its earnings by not properly disclosing the costs of a rebate program for its Roundup weed-killer.

Monsanto will pay an $80 million penalty and several executives will pay smaller amounts to settle federal allegations that the agribusiness giant misstated its earnings by not properly disclosing the costs of a rebate program for its Roundup weed-killer.

Regulators say 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.

Monsanto Co. hasn't admitted wrongdoing, but it also agreed to hire a consultant to review the company's financial reporting procedures for rebates. Three accounting and sales executives will pay penalties ranging from $30,000 to $55,000.

CEO Hugh Grant has paid back $3 million in bonuses tied to the company's performance, although regulators said they found no personal misconduct by Grant.