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Bayer is out of $86.7 (USD)

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On Thursday, a California judge cut a couple’s lawsuit against Bayer AG from $2 billion (USD) to $86.7 million.  The previous ruling was given earlier this year to Alva and Alverta Pilliod.  Both people had been using the weed killer Roundup that is manufactured by Monsanto for decades.  They both ended up having non-Hodgkins lymphoma.

The cancer was caused by glyphosate, a known carcinogen that is in Roundup.  Since Roundup never put any warning labels about the chemical on their product, Bayer lost the case.

For some strange reason, Bayer bought Monsanto last year even though there are over 13,000 lawsuits currently in litigation in the USA along with more lawsuits popping up in Australia.  However, Bayer now saves $1.91 billion.  Although Bayer stock has risen 5% over the past month, they are still down 45% from the time they acquired Monsanto.  More than likely, their stock will continue to fall as litigation continues in courthouses throughout America and Australia.

What do you think?

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Written by ahol888

Coolest dwarf in the world. Expert on the topic of mediocrity.

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    • Actually, it’s a good thing because the judge is actually going by the rules. In California, punitive damages can only be five times the amount of the settlement. The jury came up with the $2 billion number that had to be changed. With this precedent, it means that all of the other lawsuits will go against Bayer as well. However, Bayer is going for the long shot and are hoping that one of these cases goes to the Supreme Court.

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