Under shareholder pressure, Bayer hires law firm to initiate ‘radical overhaul’ of glyphosate litigation strategy

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Chemicals giant Bayer, under pressure from activist shareholders, said on [June 26] it has hired an external lawyer to advise its supervisory board and has set up a new committee to resolve a multi-billion dollar glyphosate litigation issue.

Bayer said it has hired U.S. lawyer John H. Beisner from Skadden, Arps, Slate Meagher & Flom LLP to advise the Supervisory Board on matters related to the glyphosate litigations, including trial tactics and mediation.

Activist shareholder Elliott Associates revealed on [June 26] that it holds Bayer shares and financial instruments equivalent to 1.1 billion euros ($1.3 billion) worth of Bayer stock …. Elliott said it believes …. the special committee will provide a new level of oversight and a fresh perspective to a litigation strategy, which it said needs a radical overhaul.

Related article:  Will glyphosate residue in beer and wine raise your cancer risk? If you drink 8 gallons a day

Read full, original article: Bayer seeks outside advice on litigation as Elliott reveals stake

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