Bayer’s legal woes multiply as chemical giant battles onslaught of glyphosate, dicamba lawsuits

im

Many Bayer AG investors didn’t realize just how much litigation risk they were getting when the German company spent $66 billion in June to acquire Monsanto Co., the giant U.S. seed and herbicide maker. A San Francisco jury’s August 2018 award of $289 million to a groundskeeper who blamed Monsanto’s blockbuster weedkiller, Roundup, for his cancer sent shares down the most since 2001.

While Bayer won a ruling to cut the award to $78.6 million, more than 8,500 additional plaintiffs are making similar claims. And with a flood of pending lawsuits over waterways contaminated with PCBs and fresh cases emerging over another Monsanto herbicide, dicamba, investors are left to ponder the final cost of Bayer’s increased legal exposure.

Related article:  Scientists urge revamped regulations for genetic engineering

Why was the San Francisco case so alarming to investors?

…[T]he Aug. 10 verdict in the groundskeeper’s case put a spotlight on the potential risk of litigation sparked by Roundup and other potentially harmful chemicals. Jonas Oxgaard, an analyst at Sanford C. Bernstein & Co., has estimated Bayer may face $5 billion in legal costs and plaintiff payouts as a result of its Monsanto acquisition, which would rank among the biggest ever by a company facing damage claims made by private individuals….

Read full, original article: What’s Next in Court for Bayer Toxic Chemical Claims

Outbreak
Outbreak Daily Digest
Biotech Facts & Fallacies
Genetics Unzipped
Infographic: How dangerous COVID mutant strains develop

Infographic: How dangerous COVID mutant strains develop

Sometime in 2019, probably in China, SARS CoV-2 figured out a way to interact with a specific "spike" on the ...
Untitled

Philip Njemanze: Leading African anti-GMO activist claims Gates Foundation destroying Nigeria

Nigerian anti-GMO activist, physician, and inventor pushes anti-gay and anti-GMO ...
News on human & agricultural genetics and biotechnology delivered to your inbox.
glp menu logo outlined

Newsletter Subscription

Optional. Mail on special occasions.
Send this to a friend