Bayer-Roundup $11 billion deal at risk of collapse, judge says: Bloomberg News
August 27, 2020
(Reuters) – German drugs company Bayer AG’s <BAYGn.DE> $11 billion settlement of thousands of U.S. lawsuits over its Roundup weed killer is less defined than the company disclosed, a judge overseeing the suits said, Bloomberg News reported on Thursday.
Bayer is battling a slew of lawsuits stemming from its $63 billion takeover of seed and chemical company Monsanto in 2018.
U.S. District Judge Vince Chabbria threatened to lift a pause on the litigation and let it move forward, according to the report. ([https://bloom.bg/34EJ9Mj])
Chabbria forcefully criticized the company’s description of the settlement in June and said during a hearing on Thursday he’s inclined to make public several confidential letters from consumer lawyers complaining that Bayer’s Monsanto unit is reneging on the deal, Bloomberg News said.
Bayer did not immediately respond to a Reuters request for comment.
(Reporting By Mrinalika Roy in Bengaluru; Editing by Shounak Dasgupta)