Tweet
Bayer didn't create this weedkiller but they bought Monsanto a few years ago so inherited the liability.
Biden administration asks U.S. Supreme Court to shun Bayer weedkiller appeal
May 10
WASHINGTON (Reuters) -President Joe Biden's administration on Tuesday asked the U.S. Supreme Court not to hear Bayer's bid to dismiss claims by customers who contend that its Roundup weedkiller causes cancer, as the company seeks to avoid potentially billions of dollars in damages.
Solicitor General Elizabeth Prelogar, who represents the administration before the high court, said in a court filing that Bayer's appeal should be rejected.
Bayer shares on Wednesday plunged 6.3%, a loss of about 3.7 billion euros ($3.9 billion) in market value, to their lowest in seven weeks at 0735 GMT as traders dismissed any likelihood of the company's case being heard.
The stock is still up more than 20% this year on a rebound in demand from farmers.
Bayer last August petitioned the justices to reverse a lower court's decision that upheld $25 million in damages awarded to California resident Edwin Hardeman, a Roundup user who blamed his cancer on the German pharmaceutical and chemical giant's glyphosate-based weedkillers...
Biden administration asks U.S. Supreme Court to shun Bayer weedkiller appeal
May 10
WASHINGTON (Reuters) -President Joe Biden's administration on Tuesday asked the U.S. Supreme Court not to hear Bayer's bid to dismiss claims by customers who contend that its Roundup weedkiller causes cancer, as the company seeks to avoid potentially billions of dollars in damages.
Solicitor General Elizabeth Prelogar, who represents the administration before the high court, said in a court filing that Bayer's appeal should be rejected.
Bayer shares on Wednesday plunged 6.3%, a loss of about 3.7 billion euros ($3.9 billion) in market value, to their lowest in seven weeks at 0735 GMT as traders dismissed any likelihood of the company's case being heard.
The stock is still up more than 20% this year on a rebound in demand from farmers.
Bayer last August petitioned the justices to reverse a lower court's decision that upheld $25 million in damages awarded to California resident Edwin Hardeman, a Roundup user who blamed his cancer on the German pharmaceutical and chemical giant's glyphosate-based weedkillers...