logo
  

Bayer Reaches $2 Bln Agreement To Settle Future Roundup Lawsuits

Bayer (BAYZF.PK,BAYRY.PK,BYR.L) has reached up to $2 billion agreement with plaintiffs' attorneys to settle future lawsuits over claims that its Roundup weedkiller causes cancer.

The settlement will provide future plaintiffs, who contract non-Hodgkin lymphoma after using Roundup, up to $200,000 in compensation.

Bayer inherited thousands of lawsuits against Roundup inventor Monsanto Co. when it acquired the U.S. agriculture giant for $63 billion in 2018.

Bayer said plaintiffs' class counsel are filing Wednesday a motion for preliminary approval of the class agreement with Judge Vince Chhabria of the U.S. District Court for the Northern District of California, who presides over the Monsanto Roundup multi-district litigation.

Bayer noted that elements of the revised plan include the establishment of a fund to compensate qualified claimants during an initial four year program, an advisory science panel whose findings would not be preclusive but can be used as evidence in potential future litigation involving class members, and a robust notice program. The plan also includes research and diagnostic programs that were part of the original class agreement.

Monsanto will request permission from the Environmental Protection Agency to include a link to information concerning whether Roundup Products cause non-Hodgkin lymphoma on all Roundup labels.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Verizon Communications Inc. (VZ) said, on an adjusted basis, its third-quarter earnings per share rose 12.8 percent from a year ago. The company said its earnings were highlighted by revenue and customer growth as more than one in four Consumer wireless phone customers now have a 5G-capable device. The... While reporting financial results for the third quarter on Wednesday, Abbott Laboratories (ABT) raised its earnings and adjusted earnings guidance for the full-year 2021. For fiscal 2021, the company continues to project earnings from continuing operations in a range of $3.55 to $3.6 per share and... Shares of Nestle SA were gaining around 4 percent in Swiss trading after the food and beverage giant on Wednesday raised its fiscal 2021 organic sales growth forecast after reporting higher sales in the first nine of the year. For the full year, the company now expects organic sales growth between 6 percent and 7 percent.
Follow RTT