Brigette Honaker  |  September 19, 2018

Category: Consumer News

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Roundup Weed Killer Lawsuits Take Toll On Bayer Stocks Following Recent Monsanto AcquisitionRecent reports show that Bayer’s recently acquired asset, Monsanto, faces around 8,000 Roundup weed killer lawsuits alleging that the main ingredient of the product can cause cancer.

Bayer acquired Monsanto, Roundup’s manufacturer, in a $63 billion deal this June. At the time of the deal, Bayer revealed that Monsanto faced around 5,200 Roundup weed killer lawsuits. However, that number seems to have increased according to recent statements from Bayer.

“The number of plaintiffs in both state and federal litigation is approximately 8,000 as of end-July. These numbers may rise or fall over time but our view is that the number is not indicative of the merits of the plaintiffs’ cases,” said Bayer Chief Executive Werner Baumann in a recent statement reported by Reuters.

Following an Aug. 10 jury verdict where Monsanto was ordered to pay $289 million in damages, Bayer stocks have decreased by over 10 percent. This ruling followed the first ever trial over Monsanto’s glyphosate weed killers and has proven to be an unfavorable stock outcome for Bayer.

“While this is disappointing, it is not surprising. Indeed, in our litigation scenario analysis, we assumed a doubling of cases to 10,400,” said an analyst at brokerage Berenberg, according to the Reuters report.

Bayer has said that it plans to petition the verdict and urge a reversal by the judge. The company has also said that “if necessary” it will challenge the ruling through California appellate courts. Representatives say that Bayer plans to “vigorously defend this case and all upcoming cases” opposed to settling pending litigation out of court.

Although stocks are down and the number of Roundup week killer lawsuits is up, Bayer executives have assured that the demand for glyphosate and seeds which are resistant to the herbicide has not been affected.

“Nothing whatsoever has changed in the regulatory status of the product. There is simply very high demand, and has been for many decades for glyphosate. It is an invaluable tool for growers,” said Liam Condon, head of Bayer’s Crop Science division, according to Reuters.

Roundup Weed Killer Lawsuits Allege Cancer Causing Ingredient

Glyphosate is a broad spectrum herbicide used as the active ingredient in Roundup, Ranger Pro, and other weed killers. Although the chemical is effective at killing weeds, plaintiffs in Roundup weed killer lawsuits claim that glyphosate can increase the risk for cancer, particularly non-Hodgkin’s lymphoma. Other cancers allegedly related to glyphosate include leukemia, multiple myeloma, bone cancer, kidney cancer, B-cell lymphoma, and more.

The link between glyphosate and cancer was affirmed by the International Agency for Research on Cancer (IARC) in March 2015. The agency released a report which found that glyphosate and four other pesticides were shown to cause cancer. Other studies in Canada, the United States, and Sweden have provided more evidence for the cancer causing potential of glyphosate.

If you or a loved one developed cancer after exposure to glyphosate weed killers, you ma be able to take legal action against Bayer. Roundup weed killer lawsuit often claim that manufacturers knew or should have known about the risks associated with the products but failed to warn consumers. Roundup week killer lawsuits may be able to recover compensation for medical bills, pain and suffering, wrongful death, and more.

If you or a loved one developed cancer after using Roundup as a farm worker or home gardener, you may have a legal claim. Legal migrant farm workers may also seek help. Learn more by filling out the form on this page for a FREE case evaluation.

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