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

| | June 27, 2019

This article or excerpt is included in the GLP’s daily curated selection of ideologically diverse news, opinion and analysis of biotechnology innovation.

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:  German government, farm group face off over impact of potential glyphosate ban

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

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