• (PLX AI) – Bayer Provides Update on Path to Closure of Roundup™ Litigation.
  • • Bayer posts an additional provision of a gross amount of 4.5 billion U.S. dollars
  • • Bayer sketched out two basic scenarios going forward to provide a path to closure of this litigation
  • • The first scenario is based on obtaining a favorable decision by the United States Supreme Court on a cross-cutting issue like federal preemption which would effectively and largely end the U.S. Roundup™ litigation
  • • The second scenario assumes that the Supreme Court either declines to hear the Hardeman case or issues a ruling in favor of plaintiff – in that case the company would activate its own claims administration program
  • • The company sees good chances for the first scenario and believes there are strong arguments for the U.S. Supreme Court to accept the case and ultimately render a supporting verdict
  • • However, Bayer is also prepared for the second scenario to manage anticipated claims, through settlement and litigation, to ultimately bring an end to this litigation
  • • For this second scenario, the company posts an additional provision of a gross amount of 4.5 billion U.S. dollars (3.8 billion euros), i.e. before tax and discounting in the second quarter 2021, reflecting the company’s potential long-term exposure

Quelle: PLX AI