(Reuters) – Shares in German pharmaceutical company Bayer AG fell 3% on Friday after it was reported that there were "irregularities" in settling US $ 11 billion lawsuits over its Roundup herbicides after a US judge questioned progress
Bayer reached an agreement in June on approximately 75% of the 125,000 claims arising from its acquisition of the $ 63 billion seed and chemical company Monsanto in 2018.
It has shown that the existing cases depend on some form. agreement on future cases, and has proposed a scientific panel to determine future applicants who agree to submit to out-of-court proceedings.
U.S. District Judge Vince Chhabria threatened to restart the lawsuit and let it go on after questioning whether Bayer would return to the settlement, according to a Bloomberg News report.
“There are often some obstacles in the way of implementing a resolution on this. Bayer said in a statement.
Shares had fallen to EUR 54.78 ($ 65.21
One of the leading lawyers involved in the Roundup disputes said he was prepared to put cases back in court.
"I agree that these Monsanto shenanigans must stop. "Either loose or not – at this time the only enemy is indecision," Brent Wisner told Reuters.
Judge Chhabria asks the parties to continue to conclude the settlement and to give the next step if disputes resume, planning a September 24 hearing to discuss progress, according to a source who oversaw the hearing.
Bayer said it was expected that disputes would remain pending at least until then. "We are optimistic that the completion of the settlements during this time will make any further steps on the trial track unnecessary," it said.
In July, Judge Chhabria raised concerns about the plan to create an independent panel of researchers to assess. whether glyphosate-based herbicides such as Roundup caused cancer, which delays an important part of the proposed settlement. , is unparalleled because glyphosate will remain on the market without cancer warning.
Judge Chhabria said on Thursday that he was inclined to publish several confidential letters from consumer lawyers complaining that Bayer's Monsanto unit was declining the deal, Bloomberg News reported. Catalog