- Bayer (OTCPK:BAYRY -2.2%) heads lower after a U.S. federal judge faults provisions of the settlement Bayer reached in July with ~2,500 U.S. cities, counties and ports over PCB pollution that was blamed on Monsanto, which Bayer acquired in 2018.
- The judge says provisions for release of liability for future claims are too broad, particularly in light of the "modest" settlement fund.
- The PCB litigation was part of Bayer's agreement to pay as much as $10.9B to settle U.S. lawsuits related to Roundup, including $1.25B to support a separate class agreement to address potential future litigation.
- https://seekingalpha.com/news/3640062-judge-tosses-bayers-650m-pcb-pollution-settlement
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