HAS BAYER'S BIGGEST HEADACHE – THAT WOULD BE MONSANTO – NOW STUMBLED TO A MILESTONE? Putting Bayer's colossal stupidity into monetary terms, its reckless purchase of albatross malicious Monsanto in 2018 has caused Bayer's stock value to drop by a third to the tune of $30 Billion.
In a due-diligence-failure of epic proportions, Bayer's purchase also unwittingly bought the tsunami of liability claims for Monsanto's deadly flagship product, the fatally-flawed broad-spectrum-chelator herbicide glyphosate, tradenamed 'Roundup.' Roundup herbicide has been linked-at-the-hip as the Toxic enabler to the dubious GE crops of Industrial Ag, including GE corn, GE soybeans, GE cotton, GE canola and GE sugar beets over the last 25 years.
Bloomberg reporting indicates verbal agreements may have been reached for a large chunk of the jaw-dropping 125,000 lawsuits against deadly Monsanto's Roundup. Caleb, Megan & Jim
"Bayer AG is close to a turning point in its legal battle over the weedkiller Roundup. But it still has work to do to convince investors that buying Monsanto made sense.
The German drug and agriculture giant reached verbal agreements to resolve tens of thousands of U.S. cancer lawsuits over its Roundup weedkiller, Bloomberg News reported Monday. While the deals have yet to be signed, they cover an estimated 50,000 to 85,000 cases out of a total of some 125,000 lawsuits, according to people familiar with the negotiations, who asked not to be identified because they aren’t authorized to speak publicly…
"In April, Bayer said that the number of Roundup plaintiffs had grown to 52,500. That figure, however, only includes cases that have been filed and served in U.S. courts. Meanwhile, there is another category of cases that are being held in abeyance by plaintiffs’ lawyers under agreements with Bayer. Everything needs to be addressed, and people familiar with the matter estimate the total number of cases is around 125,000."
Bayer AG is close to a turning point in its legal battle over the weedkiller Roundup. But it still has work to do to convince investors that buying Monsanto made sense.