More Roundup users sue as settlement talks slow due to Covid-19

More Roundup users sue as settlement talks slow due to Covid-19

EXCERPT: In its annual report, released in February, Bayer also warned of possible liquidity problems, saying the Roundup suits may force it to sell assets, issue new equity or borrow money at unfavorable terms.
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More Roundup users sue as settlement talks slow due to Covid-19

By Greg Edwards
St. Louis Business Journal, Apr 27, 2020
https://www.bizjournals.com/stlouis/news/2020/04/27/more-roundup-users-sue-as-settlement-talks-slow.html
The number of plaintiffs claiming Monsanto's Roundup weed killer caused their cancer continues to climb, as settlement talks have slowed because of the Covid-19 pandemic, Bayer said Monday in reporting its first-quarter financial results.
Bayer, which acquired Roundup in its $63 billion acquisition of St. Louis-based Monsanto Co. in 2018, also raised concerns about liquidity due to a recession and a possible settlement. The German company said it would consider only a “financially reasonable” settlement that resolves the potential for future claims, The Wall Street Journal reported.
“Against the background of a looming recession and looking at, in part, considerable liquidity challenges, this applies now more than ever,” the company said.
The number of plaintiffs claiming that Roundup caused their cancers rose to 52,500 in April from 48,600 in February, Bayer said.
Stockpiling of Bayer products because of the pandemic helped boost sales 4.8% in the quarter, to $13.91 billion. The company's Crop Science business, based in St. Louis, also helped, with strong sales of seeds, fungicides and pesticides in Europe in the Middle East, the company said.
In its annual report, released in February, Bayer also warned of possible liquidity problems, saying the Roundup suits may force it to sell assets, issue new equity or borrow money at unfavorable terms.

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