Wall Street Journal writers Laura Kusisto and Ruth Bender reported on Friday that, “The latest trial over allegations that Bayer AG’s popular Roundup weedkiller causes cancer was postponed indefinitely at the last minute on Friday to allow room for escalating settlement talks to continue.
“Bayer was hours away from facing another jury on the issue, after the German chemical and drug conglomerate over the last year and a half lost the first three Roundup trials for a total of $190.5 million in awards. A fourth adverse verdict could have handed plaintiffs, who number more than 42,000, additional ammunition in settlement talks that have dragged on for months.
“Analysts estimate any settlement would be in the $8 billion to $12 billion range, in talks led by court-appointed mediator Ken Feinberg, who said he was ‘cautiously optimistic’ a deal could be struck in the coming weeks.”
The Journal article noted that, “Bayer and a host of plaintiffs have moved closer in recent weeks to settling the Roundup litigation, according to attorneys and Mr. Feinberg.
“In talks, Bayer and plaintiff lawyers are trying to establish the conditions for compensating plaintiffs as a step toward coming up with a total amount for a potential settlement, according to people familiar with the settlement negotiations. Bayer wants a deal that would include a way to handle potential future claims. How that can be done is still uncertain, though lawyers expect the company to set aside a pool of money to address future claimants.”
