Bayer to Set Aside $4.5 Billion in Provisions for Roundup Case; To Petition US Supreme Court for Review
July 29 2021 - 10:02AM
Dow Jones News
By Cecilia Butini
Bayer AG said Thursday that it would set aside $4.5 billion in
further provisions to end litigation around its Roundup weedkiller
in the event of an unfavorable U.S. Supreme Court ruling related to
a claim in which Bayer appealed and lost.
The German conglomerate said it is preparing for a possible
unfavorable Supreme Court ruling, in which the court declines to
hear the case or rules in favor of the plaintiff, a California
resident named Edwin Hardeman who claimed that his lymphoma was
caused by Roundup.
The company said, however, that it sees good chances that the
court will issue a favorable decision, effectively ending
litigation around Roundup.
Bayer will file a petition to the Supreme Court seeking review
of the Hardeman case in August, it said, adding that it won't
entertain any discussions on further settlements when and if the
court grants review.
In the event of a negative Supreme Court outcome, the company
said it will set up a claims administration program that will come
up with pre-determined compensation values.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
July 29, 2021 09:54 ET (13:54 GMT)
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