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(Bloomberg) -- Bayer AG’s Monsanto unit persuaded a Missouri judge to cut almost $1 billion from a $1.5 billion jury verdict that was one of the largest in the six years the company has been fighting thousands of claims that its Roundup weedkiller causes cancer.Most Read from BloombergNY Region Rattled by 4.8 Magnitude Quake, Biggest in 140 YearsTurkey Joins NATO Allies in Suspending Europe Arms TreatySaudis Scale Back Ambition for $1.5 Trillion Desert Project NeomZimbabwe Announces New Currency
Bayer Was Ordered To Pay $2.25 Billion From Liabilities For Exposure To Roundup Weedkiller menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
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Despite more than $4 billion in U.S. jury verdicts over Bayer's Roundup weedkiller, including a $2.25 billion verdict last week, the company so far has shown no willingness to settle, instead betting that it can greatly reduce, or wipe out, its liability through legal appeals. The strategy means the German pharmaceutical and biotechnology company could face further trials and hefty verdicts for years to come as its appeals work their way through U.S. courts. At least 10 trials are expected this year in state courts around the United States, and close to 50,000 Roundup lawsuits are currently pending.
(Bloomberg) -- Bayer AG faces mounting pressure to come up with a new plan for handling its Roundup weedkiller litigation after getting hammered by US jury verdicts totaling almost $4 billion over the last three months.Most Read from BloombergMusk Says First Neuralink Patient Received Implant in BrainTraders Line Up for ‘Once-in-a-Generation’ Emerging Markets BetUPS to Cut 12,000 Jobs, Bring Workers in Five Days a WeekBlackstone Is Building a $25 Billion Empire of Power-Hungry Data CentersTrump
Shares in Bayer dropped as much as 5.7% on Monday after the embattled German company was ordered to pay $2.25 billion in damages, the highest amount yet in its ongoing litigation linked to an alleged carcinogenic effect of its Roundup weedkiller. A jury in a Philadelphia court on Friday ordered Bayer to pay $2.25 billion to a Pennsylvania man who said he developed cancer from exposure to the Roundup weedkiller, based on the chemical glyphosate. Shortly after the 0800 GMT open, Bayer shares fell 5.7% to their lowest in about eight weeks, before trimming the losses to last trade down 4.6%.
If Giuliani ever pays the verdict or a settlement, he can probably deduct the payments on his taxes, but the plaintiffs will have to pay taxes on whatever they collect.
Victory Against Bayer! Williams Hart & Boundas Wins Against Monsanto's Roundup Weedkiller tmcnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tmcnet.com Daily Mail and Mail on Sunday newspapers.
Bayer was ordered on Tuesday to pay nearly $3.5 million by a Philadelphia jury that found the company's Roundup weedkiller caused a woman's cancer, the company said, the latest in a string of trial losses for the company as it tries to fend off thousands of similar lawsuits. The verdict in the Philadelphia Court of Common Pleas marks the fifth consecutive loss for Bayer, but it is much smaller than recent verdicts against the company that total more than $2 billion. The verdict, which came after a three-week trial and two days of jury deliberations, includes $462,500 in compensatory damages and $3 million in punitive damages.
With Bayer facing investor pressure to resolve thousands of lawsuits over its Roundup weedkiller after being hit with $2 billion in verdicts in recent weeks, all eyes are on a trial wrapping up in Philadelphia. Plaintiffs have won the last four trials over their claims that the product causes cancer, each time securing a larger verdict. In the ongoing case, which kicked off Nov. 6 in the Philadelphia Court of Common Pleas, Pennsylvania resident Kelly Martel claims she developed non-Hodgkin lymphoma from using Roundup.