Another defeat: Bayer is also defeated in the second glyphosate appeal in the USA – Bayer shares lighter | message
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The responsible court in San Francisco confirmed a judgment on Friday according to which Bayer had to pay plaintiff Edwin Hardeman a total of a good 25 million US dollars (20.6 million euros) in damages.
Bayer was disappointed in a statement. The court’s decision was not supported by evidence at the trial or applicable law, the company said. Bayer is considering all legal options in order to obtain a re-examination of the case. The option of involving the Supreme Court – the US Supreme Court – will also be examined.
Hardeman had blamed the glyphosate-containing weed killer Roundup from US seed giant Monsanto, which Bayer acquired in 2018 for over $ 60 billion, responsible for its cancer. In 2019, a jury initially imposed fines of a good $ 80 million against Bayer. Later the amount was reduced significantly. The group had appealed anyway.
Bayer is confronted with numerous glyphosate lawsuits in the United States, which the company intends to settle with a billion-dollar settlement. Only three cases have so far been heard in courts, and the DAX group has lost all three. Bayer has not yet had any success in appointment procedures either.
The glyphosate problem taken over with the Monsanto purchase makes the group difficult to create. In the United States, more than 125,000 plaintiffs have filed claims for damages. Bayer wants to take more than eleven billion dollars in hand to settle the mass proceedings. But an important part of the settlement still requires judicial approval. An important hearing is due on May 19.
Bayer stock under pressure due to glyphosate setback
After the most recent good run, the shares came under pressure on Monday at the start of the stock market and, as the DAX’s bottom, lost 2.28 percent to 55.76 euros. A trader ruled that this was again a damper for the hope of limiting the legal risks with the weed killer. After all, Bayer shares outperformed the DAX this year with a gain of around 15 percent.
SAN FRANCISCO / FRANKFURT (dpa-AFX)
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