Bayer: stock drops on setback in Roundup case in US

(CercleFinance.com) - A California judge on Wednesday rejected a proposal by Bayer to settle a class-action lawsuit over Roundup, its glyphosate-based herbicide suspected of causing cancer.


Vince Chhabria, a Northern California district court judge, refused to validate the agreement, which was intended to cover the potential impact of future litigation.

"The court's decision closes the door on an MDL court-supervised national class solution to manage potential future litigation... which would have been the fairest, most efficient mechanism for all parties," Bayer said in a statement.

After the refusal, the German chemical group announced a new five-point legal and commercial action plan that is supposed to offer an attractive way out.

However, investors nevertheless snubbed this, wallowing in skepticism about the matter this morning, with Bayer shares down over 4% on the Frankfurt Stock Exchange.


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