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Bayer settles thousands more Roundup lawsuits

September 15, 2020

Bayer (OTCPK:BAYRY +2.3%) has settled thousands more U.S. lawsuits over its Roundup weedkiller, according to new court filings, following criticism that the company was failing to uphold an $11B deal it announced in June to resolve the litigation.

The latest settlements resolve ~15K U.S. lawsuits, Bloomberg reports, which says the value of the settlements was not disclosed; added to the 32K settlements previously disclosed by mediator Ken Feinberg, Bayer has resolved at least 47K of the suits but still faces 125K filed and unfiled Roundup claims.

Bayer last week extended the contract of CEO Werner Baumann, in a sign of continuity as the company works its way through the many lawsuits; Bayer also said it was making progress with plaintiff attorneys.

https://seekingalpha.com/news/3614219-bayer-settles-thousands-roundup-lawsuits-bloomberg

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