Bayer Advances Toward Resolving Roundup Litigation
A draft settlement of lawsuits alleging a connection between Roundup exposure and cancer has been agreed to by Bayer and lawyers representing “tens of thousands” of plaintiffs, The Wall Street Journal reported Friday, citing “people familiar with the matter.”
The newspaper reported the settlement “appears poised to end up” in the $10 billion range, but also that the deal has not been signed “and could yet fall apart.”
Bayer issued a brief statement, saying, “Mediation discussions continue in good faith under a court order requiring confidentiality, and the company cannot comment on speculation about outcomes, timing or progress.”
Bayer has reported nearly 50,000 Roundup cases have been filed against it. In a recent earnings call, Bayer CEO Werner Baumann said the steady increase in lawsuits has not changed Bayer’s stance on the safety profile of glyphosate.
Three cases in state and federal court resulted in jury verdicts of more than $2 billion, but those awards were reduced significantly by the courts, and Bayer is now appealing.
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The newspaper reported the settlement “appears poised to end up” in the $10 billion range, but also that the deal has not been signed “and could yet fall apart.”
Bayer issued a brief statement, saying, “Mediation discussions continue in good faith under a court order requiring confidentiality, and the company cannot comment on speculation about outcomes, timing or progress.”
Bayer has reported nearly 50,000 Roundup cases have been filed against it. In a recent earnings call, Bayer CEO Werner Baumann said the steady increase in lawsuits has not changed Bayer’s stance on the safety profile of glyphosate.
Three cases in state and federal court resulted in jury verdicts of more than $2 billion, but those awards were reduced significantly by the courts, and Bayer is now appealing.
Click Here to read more.