Bayer proposes $7.2 billion settlement to resolve Roundup weedkiller cases [CBS News]
BAYER AG S/ADR (BAYRY)
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Source: CBS News
If the settlement wins court approval, Monsanto would make annual payments for up to 21 years. People diagnosed with non-Hodgkins lymphoma who were exposed to Roundup before the proposed legal remedy was announced on Tuesday can file a claim to receive payments, according to Reuters. Bayer said in a statement that the agreement does not include any admission of liability or wrongdoing. Bayer said these resolutions will increase its litigation liability from 7.8 billion euros ($9.2 billion) to 11.8 billion euros ($13.9 billion). Bayer, a German agricultural and pharmaceutical company, also said Tuesday that it had reached agreements to resolve other Roundup-related cases. Those additional settlements, whose exact terms were not disclosed, would amount to about $3 billion, Reuters reported. Bayer has faced thousands of lawsuits linked to Roundup since it bought Monsanto in 2018 for $63 billion. In 2020, Bayer announced it would pay up to $10.9 billion to settle some 125,000 filed
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