Bayer Agrees to Settle Majority of Roundup Lawsuits
ST. LOUIS, MO – Bayer, the world’s largest seed company, announced a series of agreements reached on Wednesday that will “substantially resolve major outstanding Monsanto litigation, including U.S. Roundup product liability litigation, dicamba drift litigation and PCB water litigation” adding that the agreements “contain no admission of liability or wrongdoing.” According to media reports, the settlement will cover about 125,000 claims alleging Roundup causes non-Hodgkin’s lymphoma and the company expects the investment to settle 75 percent of the cases subject to approval in the U.S. District Court for the Northern District of California. Under the settlement, Bayer will pay between $10.1 billion and $10.9 billion to resolve current and address potential future Roundup litigation, will settle dicamba drift litigation for up to $400 million, and conclude most PCB water litigation exposure for payments of approximately $820 million. Bayer inherited the Roundup debacle in 2018 when it acquired Monsanto for more than $60 billion.
(SOURCE: Ag Wired News)