- Bayer (OTCPK:BAYRY +2.3%) has settled thousands more U.S. lawsuits over its Roundup weedkiller, according to new court filings, following criticism that the company was failing to uphold an $11B deal it announced in June to resolve the litigation.
- The latest settlements resolve ~15K U.S. lawsuits, Bloomberg reports, which says the value of the settlements was not disclosed; added to the 32K settlements previously disclosed by mediator Ken Feinberg, Bayer has resolved at least 47K of the suits but still faces 125K filed and unfiled Roundup claims.
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Bayer last week extended the contract of CEO Werner Baumann, in a sign of continuity as the company works its way through the many lawsuits; Bayer also said it was making progress with plaintiff attorneys.