Bayer Moves to Resolve Roundup Lawsuits with $7.25 Billion Settlement
Bayer and its Monsanto unit have proposed a $7.25 billion U.S. class settlement to address claims linking Roundup weedkiller to Non-Hodgkin lymphoma. The settlement aims to resolve current and future claims and has been filed in St. Louis, Missouri. Bayer anticipates significant litigation payouts, impacting its financial outlook.
Bayer, in a significant legal stride, announced its Monsanto unit has filed a class settlement proposal worth up to $7.25 billion. This settlement is designed to address the multitude of current and future claims connecting Roundup weedkiller to Non-Hodgkin lymphoma.
The settlement, submitted in the Circuit Court of the City of St. Louis, Missouri, proposes a long-term claims program funded by capped annual payments extending over 21 years. In parallel, Bayer is crafting additional settlements for existing U.S. Roundup cases, which Bloomberg reports could reach a value of $3 billion.
Set to cover the majority of ongoing cases in both state and federal courts, the proposal includes a clause for individuals diagnosed with Non-Hodgkin lymphoma exposed to Roundup before Tuesday to claim a share of the settlement over 21 years. Bayer foresees its litigation liabilities to swell, impacting its financial projections through anticipated payouts and pushing back financial results announcements.
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