- Benzinga
Judge Slashes Bayer's Massive $2B Roundup Verdict To $400M
A Pennsylvania judge on Tuesday drastically reduced a $2.25 billion verdict against Bayer AG (OTC:BAYRY), cutting it down to $400 million in a case involving a man who claimed he developed cancer from using the company’s Roundup weedkiller. The jury in the Philadelphia Court of Common Pleas had initially awarded John McKivison $250 million in compensatory damages and $2 billion in punitive damages, finding that his non-Hodgkin’s lymphoma was caused by long-term use of Roundup at his home. Howeve
- Reuters
Judge cuts Bayer $2.25 billion Roundup verdict to $400 million
NEW YORK (Reuters) -A Pennsylvania judge on Tuesday slashed a $2.25 billion U.S. verdict against Bayer to $400 million for a Pennsylvania man who said he developed cancer from exposure to the company's Roundup weedkiller. A jury in the Philadelphia Court of Common Pleas found that John McKivison's non-Hodgkins lymphoma was the result of using Roundup for yard work at his house for several years, and it ordered Bayer to pay $250 million in compensatory damages and $2 billion in punitive damages. Judge Susan Schulman granted some of Bayer's post-trial motions challenging that verdict, reducing compensatory damages to $50 million and punitive damages to $350 million.
- Bloomberg
Bayer Calls Roundup Suits Existential Threat to Company, Farming
(Bloomberg) -- Bayer AG Chief Executive Officer Bill Anderson said the wave of lawsuits over its Roundup weedkiller is an “existential” threat to the company and farmers, ratcheting up the stakes as it considers a controversial legal maneuver.Most Read from BloombergSingapore Air Changes Seatbelt Rules After Fatal TurbulenceSpaceX Weighs Plan to Sell Shares at $200 Billion ValuationThe Rise and Fall of Simon Sadler's Segantii, One of Asia's Most Successful Hedge FundsChina’s $538 Billion Deposit
