Bayer's stock value has plummeted 70% since it purchased Monsanto, and CEO now indicates Roundup lawsuits pose serious threat to future of company
Plaintiffs' expert witness testimony in three lawsuits was found to be "scientifically reasonable," clearing the way for the cases to be returned to the District of Massachusetts for trial.
Bayer has recently announced it is considering bankruptcy as a way to resolve tens of thousands of outstanding Roundup lawsuits, while it works out plans to phase out the use of glyphosate in the widely used weedkiller
Analysts say the odds are against a Roundup bankruptcy being approved by a federal judge, but the filing could delay cases set for trial throughout 2024.
Settlements have been reached to resolve 113,000 Roundup lawsuits to date, according to the manufacturer, which continues to face more than 50,000 outstanding claims.
Request to transfer all Roundup lawsuits in New Jersey to one judge for pretrial proceedings comes as Monsanto continues to face a growing number of non-Hodgkins lymphoma claims and massive jury verdicts nationwide
Idaho is the only place that mines for elemental phosphorous, a vital ingredient in the weedkiller Roundup, which has been the subject of thousands of non-Hodgkins lymphoma lawsuits nationwide.
The ruling is the latest blow to Bayer and Monsanto, which have been hit with billions in additional damage awards already this year, as Roundup lawsuits continue to go before juries nationwide.
Landscaper diagnosed with non-Hodgkins lymphoma from Roundup was awarded $250 million in compensatory damages, plus $2 billion in punitive damages against Bayer and Monsanto.
A Philadelphia jury awarded $3 million in punitive damages in a Roundup lawsuit verdict returned this week, in the latest of a series of trials scheduled over the next year.
