Bayer’s share price crashed over 4% on Thursday after Judge Vince Chhabria of the U.S. District Court for the Northern District of California threw out their attempted $ 2 Bilion deal to settle future cancer claims against their top selling glyphosate-based herbicide, Roundup.
Bayer reacted by stating Thursday: “While the Company will remain in the residential lawn and garden market, it will immediately engage with partners to discuss the future of glyphosate-based products in the U.S. residential market, as the overwhelming majority of claimants in the Roundup™ litigation allege that they used Roundup™ Lawn and Garden products.”
In a brief order that addresses what the judge called only “the most glaring flaws” of the deal, Chhabria turned aside the complicated agreement, the second time he’s shot it down, Bloomberg reported Thursday. The rejected settlement is part of a broader $11.6 billion agreement to resolve Roundup lawsuits in the U.S. from about 125,000 consumers and farmers.
Chhabria said the settlement to pay as much as $2 billion to resolve future claims is “clearly unreasonable” for consumers who are exposed to Roundup but aren’t yet diagnosed with non-Hodgkins lymphoma and may not be for a decade or longer.
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Provisions in the settlement “greatly exaggerate” the potential benefits of four years of “vaguely described medical monitoring” for those who have not yet contracted the cancer, Chhabria said. Benefits of a compensation fund are “also vastly overstated” for that group, he ruled.
“There will be no product recall,” said Liam Condon, head of Bayer’s crop-science unit in relationship to the continued residential use of Roundup. “What we’re discussing with our partners is the future of the active ingredient, that’s all.”
Glyphosate-containing products in the U.S. residential market bring in about 300 million euros in annual revenue, according to Bayer.
(5 votes, average: 5.00 out of 5)
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The ALMIGHTY GOD works for the down trodden
In New Zealand the brand name Roundup is used on look-alike products claimed to be organic certified.
In the UK they sell a glyphosate free version, but who knows how toxic that is:
Roundup 119871 Naturals Glyphosate-Free Powerful Weed Killer
I cannot believe that our government ,our leaders,Will not stop some thing that kills,And then we have gates who owns 52 or 54% of Monsanto and now he has bought millions of acres of farmland…We have to stick together and stop this I’ve been working on educating people since 2014 and Oklahoma City Oklahoma, people don’t listen though…I will not stop
Thankfully, another tool to help free the next generations from the buildup of toxic substances from their bodies.
please, do everyone and our planet a favor, and stop making this poison and stop trying to sell it to us.
The main problem we face on this planet today is that corporations like Bayer are making billions profiting from the demise of the planet and like Bayer they dont care about the long term damage as long as they are making the big bucks. Bayer knows their product is dangerous to the health of the whole planet just like the oil industry knows its product is bringing climate change but they dont have the integrity or caring to actually stop doing it and our government leaderships are all compromised by blood money paid through lobbies, basically bribes that let industry continue its trajectory entirely at the cost of all of life on planet earth. WHile this decision is good it doesnt bring an end to the problem we face as human life on the planet is still under threat.
The worst cancer chemical exposure is hairdye marketed ‘safe’. Sales and cancer levels are highest. It is sold without
protective caps (MSD-sheet requires) ONLY including gloves
as if ‘safe’. The FDA has bowed to the industry.
Will someone please tell me how this sewer gets to proclaim to the world how sensitive they are to human suffering NEVER charges these CBC, (Central Bank Clan), corporations with crimes against humanity but publicly fines them a tiny fraction of what they made, (then shaves most of it off in private meetings, or drops the fine completely).
It’s as ridiculous as their granting CIVIL IMMUNITY in the early 80’s to the CBC-owned pharmaceutical companies!
And don’t EVEN get me started on their ability to levy a kosher food tax on Christian/Muslim food products!
We made governments to ‘protect’ and help govern large populations. Clearly that has been subverted to a ‘corporate-only assistance’ as we can find with the billions and billions spent to “lobby” our governments from doing what their constituents want.
The clear majority accept “facts” that this glyphosate is a cancerous poison to us humans, and probably not that good for anything else (like bees, birds etc) that also ingests it.
So, considering government is supposed to protect us from these shysters and cancer-peddlers.. why are we ‘allowing them’ to be in bed with them (other than money)?
As other commenters have pointed out corporate corruption of our law makers is at the root of all these problems. Therefore, we need publicly funded elections to cut back on corporate influence and make officials responsive to we the people instead of corporate agendas.
Please ban this…. I’m struggling with exposure. Please. I’m begging
And here it is mid 2023 and still nothing has been done to even reign-in, much less ban this toxic, lethal, cancer-causing chemical, Glyphosate. The corruption and sociopathy is truly appalling!