Bayer Aims To Make Roundup Settlements With $10B

Bayer Aims To Make Roundup Settlements With $10B

Introduction

Bayer is looking forward to a dialogue with the lawyers of plaintiffs who filed lawsuits over its Roundup weedkiller for settling the tens of thousands of claims, which could cost $10 billion.

Lawyers for Bayer have said the company will keep aside $8 billion to settle current cases and keep $2 billion for future settlements. They even informed that the figure of $10 billion could change.

Ken Feinberg is the lead mediator for the cases and has indicated that the Roundup claims may settle within a month. Feinberg even stated that he is not aware of the amount of the settlement as the talks are confidential between the lawyers of the plaintiffs and the company's lawyers.

Roundup claims have increased since a verdict of almost $2.5 billion is awarded to the plaintiffs, which has built immense pressure on Bayer for the settlements. Many trials that were about to start this month got postponed as Bayer could get enough time for negotiations.