The maker of Roundup has reportedly offered $8 billion to settle about 18,000 lawsuits claiming that excessive exposure to the widely used weedkiller causes cancer. While the news coverage prompted a denial of a settlement offer from Bayer, the parent company of the Roundup brand, investors appeared to react positively to the news. Stock analysts were quoted as saying the $8 billion offer would be lower than the forecasts that many investors feared.
“To our knowledge, none of the law firms representing Roundup plaintiffs have given any indication that the cases filed in the MDL in San Francisco or elsewhere will be settling soon,” says Maryssa Simpson in the Dallas office of the Potts Law Firm. “We are pushing our cases currently on file towards trial and, given that Bayer has lost three trials in a row to the tune of hundreds of millions in verdicts, it makes sense for the company to float the idea of a settlement at this stage. Verdicts like those already achieved may be the only thing that will push these cases closer to settlement.”
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