(Reuters) – Bayer AG has settled thousands of lawsuits for US Roundup herbicides as part of a $ 11 billion settlement and reached an agreement with the only lawyers who filed lawsuits alleging that the herbicide caused cancer.
In a letter filed with the U.S. District Court in San Francisco late Monday, three attorneys said they had reached binding settlements in their cases.
The settlements included 15,000 lawsuits, according to a lawyer familiar with the talks. Bayer has estimated that there are 125,000 received and rejected claims for Roundup.
Bayer did not immediately respond to a request for comment.
The terms of the settlements were not disclosed in the letters submitted by the plaintiff's attorneys Brent Wisner, Jennifer Moore and Aimee Wagstaff. As a result of the agreements, all law firms that have filed lawsuits have settled with Bayer.
Attorneys Wisner and Wagstaff are members of the attorney's executive committee leading the class action lawsuit against Bayer.
Shares of Bayer increased by about 2.8% on Tuesday.
In August, Bayer's share fell by 3% after it was said there were "irregularities" in talks to seal the settlement of the $ 1
Bayer in June reached an agreement on about 75% of the 125,000 claims arising from its acquisition of the seed and chemical company Monsanto Corp of $ 63 billion in 2018.
Judge Chhabria in July raised concerns about plans to create an independent panel of researchers for to assess whether glyphosate-based herbicides such as Roundup caused cancer, which delays an important part of the proposed settlement.
The parties are expected to return to Judge Chhabria's court in Se pt. 24 to discuss the next step.