Bayer Settlement Law Mediator Ken Feinberg discusses $ 10B settlement for Roundup cancer claims.
Drug giant Bayer AG said Thursday that there were “bumps” in the sealing of its $ 11 billion settlement of thousands of U.S. lawsuits over its Roundup weed killer after a U.S. judge doubted the progress of the deal.
BAYER Chairman CLOSES
The German-based Bayer is battling a number of lawsuits stemming from the $ 63 billion acquisition of seed and chemical company Monsanto in 2018. The company unveiled the June settlement, which paused the lawsuits, while details of the agreement will be hammered.
U.S. District Judge Vince Chhabria threatened to restart the case and move forward after question marks as Bayer returned to the settlement, according to a Bloomberg News report.
WHOLE FOODS, SABRA HUMMUS CAN CONTAIN CANCER-LINKED WEEDKILLER IN A RUNDUP
“There are often some bumps in the road when implementing a resolution of this magnitude, but we remain confident that a comprehensive settlement will be finalized and implemented,” a Bayer statement said.
A consumer advocate said he was ready to bring cases to court.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| BAYRY | BAYER AG | 16.67 | -0.34 | -2.03% |
‘I agree that the shenanigans of this Monsanto should stop. “Whether rule or not – at this point the only enemy is indecision,” Brent Wisner told Reuters.
GET FOX BUSINESS ON THE GO by clicking HERE
Chhabria told the parties to proceed with the finalization of the settlement and to discuss next steps when the trial resumes and plans a September 24 hearing to discuss progress, according to a source who oversaw the hearing.
Chhabria criticized the settlement’s description of the company in June and said on Thursday it tended to open several confidential letters from consumer lawyers complaining that Bayer’s Monsanto unit was deviating from the deal, Bloomberg News said.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
