6/21/2022, 4:54 PM (Source: TeleTrader)
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US Supreme Court rejects Bayer's weedkiller appeal

The United States Supreme Court declined on Tuesday to hear Bayer AG's appeal seeking to dismiss lawsuits claiming its weedkiller Roundup causes cancer. The court confirmed a 2019 jury verdict in favor of a US citizen who said he developed lymphoma after using Roundup on his property. The plaintiff was awarded $25 million and the lawsuit is expected to serve as a blueprint for similar cases.

Following the Supreme Court decision, Bayer stated it "continues to stand fully behind its Roundup products which are a valuable tool in efficient agricultural production around the world," adding it is "fully prepared to manage the litigation risk associated with potential future claims in the US."

Bayer's stock lost over 3% following the ruling.

Baha Breaking News (BBN) / DJ