MANHATTAN, New York — Reuters issued a report indicating that Bayer AG, the international corporation that now owns Roundup, has not settled the glyphosate litigation as previously reported by some media outlets. Conversely, the mediator hired to guide the settlement talks said that the company has not settled for $8 billion. Plaintiffs have filed lawsuits against Bayer AG, the owner of Monsanto, seeking compensation because they fell ill with non-Hodgkin’s Lymphoma after using a glyphosate-based weed killer like Roundup for a prolonged time. Currently, there are approximately 18,400 plaintiffs who have brought claims against Monsanto and Bayer AG for damages.
The neutral party mediating the case flatly denied the rumor that the parties reached a settlement in the Roundup-glyphosate litigation. Reports circulated quickly, indicating that Bayer AG agreed to settle all glyphosate cases for a total of $8 billion. Bayer’s stock price shot up on the basis of those unfounded rumors. The mediator told Reuters that the parties are still engaged in negotiations and are making some progress, but the parties have not started talking about the financial aspect of settlement at this time.
Reuters reported that the plaintiffs’ attorneys have very high expectations in terms of a settlement amount. Bayer, for its part, said that the company would settle the litigation with a so-called global resolution provided that it was reasonable. The Bayer CEO told Reuters that the company would reach a settlement, provided that the settlement resolves all glyphosate claims pending against the company. However, the two verdicts returned by juries in favor of the plaintiffs in glyphosate that actually went to trial were huge judgments.
The mediator seems encouraged by the progress the parties are making toward a resolution. However, the parties are mediating the cases only pending in the federal court system. Most of the plaintiffs filed their claims in state courts around the U.S. and may make reaching a global resolution more difficult.
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