Chemical
Bayer $11 billion settlement for roundup weed killer faces new hurdles
The German chemical giant is battling thousands of lawsuits in the US arising from its takeover of rival Monsanto.
- By ICN Bureau
| August 29, 2020
Drug giant Bayer AG said on Thursday there were “bumps” in sealing its $11 billion settlement of thousands of U.S. lawsuits over its Roundup weed killer after a U.S. judge cast doubt on the progress of the agreement.
The German chemical giant is battling thousands of lawsuits in the US arising from its takeover of rival Monsanto.
At a hearing Thursday, US District Court Judge Vince Chhabria cast doubt over the agreement reached in June after lawyers representing some of the consumers accused the company of reneging on the $11 billion deal.
Bayer is battling approximately 125,000 lawsuits linked to Roundup weed killer and its other glyphosate-based products manufactured by Monsanto, a seed and chemical company it acquired in 2018 for a record $63 billion.
The plaintiffs have alleged that the glyphosate-based weed killer causes cancer, a claim consistently denied by Bayer.
The judge raised concerns about whether Bayer had manipulated the settlement process since it was announced.
Bayer said it was confident in the finalization of the settlement over the next month without restarting litigation. "There are often some bumps in the road in implementing a resolution of this magnitude, but we remain confident that a comprehensive settlement will be finalized and executed," the company said in a statement.
A lawyer for consumers said he was prepared to bring cases to trial. "I agree that these Monsanto's shenanigans need to stop. Either settle or don't — at this point the only enemy is indecision," the lawyer said.
Chhabria told the parties to continue to finalize the settlement and to confer about next steps should the litigation resume and scheduled a Sept. 24 hearing to discuss progress, according to a source who monitored the hearing.
Chhabria criticized the company’s description of the settlement in June and said on Thursday he was inclined to make public several confidential letters from consumer lawyers complaining that Bayer’s Monsanto unit is reneging on the deal.
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