Wall Street Journal writers Sara Randazzo and Jacob Bunge reported today that, “A California judge on Monday reduced by more than $200 million a jury verdict linking Bayer AG’s Roundup weedkiller to cancer but upheld the jury’s findings that the company acted with malice.
“San Francisco Superior Court Judge Suzanne Ramos Bolanos said the $250 million in punitive damages awarded by the jury must be slimmed down to match the $39.25 million in compensatory damages that the jury found appropriate. If the plaintiff agrees to the reduction by Dec. 7, no new trial is needed.
“Bayer shares dropped on the news, down 6.7% in early trading Tuesday, as investors and analysts had been hoping the judge would go even further, reducing also compensatory damages or ordering a new trial.”
The Journal writers noted that, “Bayer inherited thousands of Roundup-related lawsuits in its recently closed acquisition of Monsanto Co. and has worked to assuage investor concerns about potential liability from the litigation.”
Yesterday’s article added: “Monsanto attorneys argued that comments made by the plaintiff’s counsel, Brent Wisner, during closing arguments inflamed the jury. They included comparisons to the tobacco industry and a remark that Monsanto executives were waiting to pop champagne in their boardroom if they won the case.”
