Bayer AG appears to be inching toward a global settlement with attorneys representing more than 40,700 people who claim the company’s Roundup weed killer caused them to develop non-Hodgkin’s lymphoma, the Wall Street Journal (WSJ) reports.
Shortly after Bayer purchased Roundup maker Monsanto in 2018 for $63 billion, the company was hit with back-to-back multi-million-dollar verdicts in the first cases to reach the courtroom. Earlier this year, Bayer agreed to postpone six trials as it worked on a possible settlement with Ken Feinberg, a mediator appointed by U.S. District Judge Vince Chhabria.
But earlier this month, when asked if the company planned to reach a settlement before its annual investor meeting on April 28, Bayer Chief Executive Warner Baumann said they were in no hurry to appease plaintiffs. “If we were to submit to the imperative of a deadline, we would very likely not achieve the best outcome for our company and our shareholders,” he said.
According to WSJ, while a formal deal has yet to be inked, Bayer may be close to reaching a $10 billion settlement agreement — one that would prevent the company from having to write down the value of its Monsanto acquisition.
“Mediation discussions continue in good faith under a court order requiring confidentiality and the company cannot comment on speculation about the outcomes, timing or progress,” a Bayer spokesman told Reuters.
Beasley Allen lawyers are currently representing clients who have been exposed to Roundup and developed non-Hodgkin’s lymphoma. Our Roundup Litigation Team would welcome the opportunity to speak with you regarding a potential claim. For more information, contact one of the members of the Roundup Litigation Team: John Tomlinson (who heads up the team), Michael Dunphy, Danielle Ingram or Rhon Jones, all lawyers in our Toxic Torts Section.