Bayer CEO Proposes A $10 Billion Settlement to End Roundup Litigation
September 6, 2019 in Product Liability
As a response to the increasing number of lawsuits concerning Roundup weed killer and its primary ingredient, glyphosate, a discussion is intensifying regarding a likely settlement. Here, the consumer product liability attorneys at Sullivan Papain Block McManus Coffinas & Cannavo, P.C. discuss recent updates regarding the Roundup litigation and what it may mean for individuals harmed by the popular herbicide.
Bayer’s Roundup Has Been the Subject of Substantial Controversy in Recent Years
Since Bayer’s $63 billion purchase of Monsanto in 2016, litigation surrounding the potential dangers of Roundup weedkiller has escalated significantly. Controversy over the safety of Roundup began in 2015 when the International Agency for Research on Cancer (IARC) released a report that connected glyphosate to cancer. In recent months, Bayer has lost major Roundup cases including a federal trial in which plaintiff Edwin Hardeman awarded $80 million by a jury who determined that his long-term exposure to Roundup weed killer caused non-Hodgkin’s lymphoma. In addition, a California couple, Alva and Alberta Pilliod, was awarded $2 billion in compensatory and punitive damages after a jury determined that Roundup had contributed to the development of their non-Hodgkin’s lymphoma—their payout was eventually reduced to $87 million, and these cases are both being appealed.
Bayer has been the subject of growing litigation as a result of consumer claims that long-term exposure to Roundup causes cancer and other serious illnesses. The number of lawsuits pending against Bayer regarding Roundup has risen to 18,400 and continues to grow, which led to Bayer’s CEO, Werner Baumann, to propose a nearly $10 billion settlement to halt the rising litigation against the company.
According to Reuters, while the company reached a deal in 2020 to settle most of the roughly 100,000 then-pending Roundup lawsuits for nearly $10 billion, it failed to win court approval for a proposed $2 billion settlement of future claims.
Bayer’s Stock Has Steadily Dropped Since the Verdicts
Bayer’s stock has taken a substantial hit as a result of the growing controversy surrounding Roundup weedkiller. Specifically, Bayer’s shares have dropped approximately 40% in the last year as a result of claims that glyphosate may cause cancer. The significant drop is likely a factor contributing to Baumann’s proposal to settle the lawsuits.
Bayer’s CEO Has Proposed to Settle Litigation Over Roundup Weed Killer
In order to settle all allegations regarding Roundup weed killer and its primary ingredient, glyphosate, it has recently been reported that Baumann has proposed a “financially reasonable” settlement.
Discuss Your Options with the Team of Product Liability Attorneys at SPBMC Today
The settlement proposal by Bayer CEO Werner Baumann signifies that litigation surrounding the Roundup cancer claims could end, with plaintiffs potentially obtaining a substantial award as a result. The dedicated team of attorneys at Sullivan Papain Block McManus Coffinas & Cannavo, P.C. are experienced in consumer product liability litigation and can provide you counsel in light of these recent updates. If you or a loved one has developed non-Hodgkin’s lymphoma after prolonged use of Roundup weed killer, contact the attorneys at Sullivan Papain Block McManus Coffinas & Cannavo & Cannavo now.