Post by cjm on Aug 10, 2019 5:53:36 GMT
Bayer AG has not offered to pay billions of dollars to settle claims in the United States related to the Roundup herbicide, mediator Ken Feinberg said, dismissing a report to that effect which drove its shares as much as 11% higher.
The initial unfavorable court rulings in the first three glyphosate cases, heard in California, have at times dragged Bayer’s market value below what it paid for Monsanto, although the shares are now trading above that level.
The company, which says regulators and extensive research have found glyphosate to be safe, has previously said it was banking on U.S. appeals courts to reverse or tone down three initial court rulings that have so far awarded tens of millions of dollars to each plaintiff.
Bloomberg cited three sources familiar with the discussions as saying Bayer’s lawyers were seeking an accord to resolve all current and future cases. Talks over cases that have yet to be filed were particularly tricky, the report added.
The company, which says regulators and extensive research have found glyphosate to be safe, has previously said it was banking on U.S. appeals courts to reverse or tone down three initial court rulings that have so far awarded tens of millions of dollars to each plaintiff.
Bloomberg cited three sources familiar with the discussions as saying Bayer’s lawyers were seeking an accord to resolve all current and future cases. Talks over cases that have yet to be filed were particularly tricky, the report added.