Bayer Shares Jump On “Progress” In ‘Roundup’ Settlement Talks
25 May, 2020 by Tyler Durden
Shares in Bayer AG surged on Monday morning following a report the German life science company reached a verbal agreement to resolve most of its lawsuits related to its glyphosate-based Roundup weedkiller, sources told Bloomberg.
Bayer shares jumped 8.4% to EUR 62.50 on Bloomberg’s report of significant headway has been made in settling lawsuits.
The report said the deal would cover an estimated 50,000 to 85,000 lawsuits, which would end the expensive legal battle and force the company to shell out upwards of $10 billion.
“We’ve made progress in the Roundup mediation discussions under the auspices of Ken Feinberg, but in keeping with the confidentiality of this process, the company will not speculate about settlement outcomes or timing,” a Bayer spokesman said.
Bayer is expected to formally announce the settlements in June once it receives approval from the supervisory board. The settlement deal has yet to be signed, but plaintiffs’ lawyers are expected to do so on the day of the official announcement.
Bayer has been locked in a heated battle with an estimated 125,000 lawsuits claiming its Roundup Brand Products causes cancer. In April, the company said it was served with 52,500 US lawsuits, up from 46,600 in February.
The Bayer spokesman said the rise in lawsuits, along with the expectation of more suits, comes as lawyers have heavily advertised across the country on television. Here are some examples of the advertisement:
Ad: Roundup Exposure Linked To Cancer
Roundup was originally acquired by Bayer in a $63 billion acquisition of chemical company Monsanto in 2018. The surge of lawsuits, along with three US court losses, resulted in a 42% decline in market capitalization of Bayer since the start of 2018.
Under the deal, Roundup will continue to be sold in the US without a health warning, and plaintiffs’ attorneys will drop any new cases and halt television advertising for new clients.
Source: https://www.zerohedge.com/markets/bayer-shares-jump-it-makes-progress-settlement-talks-over-roundup
Related:
The use of Roundup as a Cereal desiccant.
Glyphosate, the main ingredient in Monsanto‘s Roundup herbicide, is recognized as the world’s most widely used weed killer. What is not so well known is that farmers also use glyphosate on crops such as wheat, oats, edible beans and other crops right before harvest, raising concerns that the herbicide could get into food products.
Escalating Use of Probable Carcinogen
Read more:
Source: http://tapnewswire.com/2020/05/bayer-shares-jump-on-progress-in-roundup-settlement-talks/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,706,384,039 |
| Stories: | 8,445,378 |
Whistler Blowers, Insiders
