Did Bayer Offer an $8 Billion Roundup™ Settlement?
On Friday, August 9, it was reported that Bayer offered to settle Roundup™ cases for $8 billion. This news was beneficial for Bayer’s corporate bottom line after a stock market rally on the same day sent the price of shares edging up by 11 percent. It was good news for the company since shares have fallen since the Bayer takeover of Monsanto 14 months ago. The supposed settlement involved roughly 18,000 claims against the company’s herbicide in the United States. Plaintiffs’ lawyers asked for a larger settlement at about $10 billion dollars. When queried about whether the company had anything to say about the settlement, Bayer remained ominously quiet. A Bayer representative, Tino Andresen, refused to comment. A mediator assigned by the courts to work out a settlement, Ken Feinberg, said that the report of a settlement was fiction.