Bayer (OTCPK:BAYRY -2.3%) slides after the judge overseeing consumer lawsuits involving its Roundup weedkiller says he has received several confidential letters from plaintiffs’ lawyers complaining that the company’s Monsanto unit is reneging on an $11B settlement plan for resolving 125K cases.
If Monsanto is “going back on its deal and the deal it announced in June, that seems to me something that should not be kept confidential,” U.S. District Judge Chabbria says, threatening to make the letters public.
Bayer reached a ~$10.5B settlement in June in tens of thousands of lawsuits with U.S. plaintiffs who have alleged the company’s Roundup herbicide causes cancer.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.