• Home
  • Categories
  • News
  • Community
EN
EN
Home
CategoriesNewsGlossaryCommunity
Contact Us
Social Media
Region
🌏International
Region
🌏International
Contact
Home
/
News
/
Bayer's cancer case compensation reduced from $2.25 billion to $400 million.

Bayer's cancer case compensation reduced from $2.25 billion to $400 million.

TraderKnowsTraderKnows
2024-06-05
Summary:A significant update has emerged in the recent Bayer cancer case ruling, where the previously proposed $2.25 billion compensation has been drastically reduced to $400 million.

A Pennsylvania judge on Tuesday reduced a $2.25 billion judgment against Bayer to $400 million. The case involves a Pennsylvania man who claimed he developed cancer after exposure to the company's herbicide, Roundup.

A jury at the Philadelphia Court of Common Pleas held that John McKivison developed non-Hodgkin's lymphoma after using Roundup for yard work at home for many years, awarding $2.5 billion in compensatory damages and $2 billion in punitive damages against Bayer.

Judge Susan Schulman granted some of Bayer's post-trial motions, reducing the compensatory damages to $50 million and the punitive damages to $350 million.

Bayer said it will continue to appeal to the Pennsylvania Superior Court, challenging the trial court's decision to allow the jury to hear what Bayer claims was misleading and "inflammatory" testimony.

A Bayer spokesperson said Tuesday: "While the court's decision reduced the unconstitutional excessive damages, we still disagree with the liability verdict due to significant and reversible errors during the trial."

Bayer also called for legislative reform in the U.S. to protect companies whose products comply with federal labeling requirements.

McKivison's attorneys, Tom Kline and Jason Itkin, said they were pleased that Judge Schulman upheld the jury's finding that Roundup causes cancer. However, they plan to appeal to seek reinstatement of the $2.25 billion jury verdict.

In a joint statement, Kline and Itkin said: "The reduction of the jury verdict significantly deviates from established Pennsylvania law, and we plan to address this issue on appeal."

Bayer said decades of research show that Roundup and its active ingredient, glyphosate, are safe for human use.

Despite being one of the most widely used herbicides in the U.S., Bayer ceased its residential sales of Roundup last year.

Bayer has won 14 out of 20 recent Roundup trials, but experienced a series of losses in late 2023 and early 2024, leading to over $4 billion in verdicts.

Some of these verdicts, like McKivison's case, were later reduced, but they ended Bayer's streak of nine consecutive wins, shattering investor and company beliefs that the worst of the Roundup litigation was over.

In the U.S., approximately 165,000 personal injury claims allege that Roundup caused their illnesses. Bayer inherited these lawsuits after its $63 billion acquisition of U.S. agri-chemical company Monsanto in 2018. Most plaintiffs, like McKivison, claim the product caused non-Hodgkin's lymphoma.

In 2020, Bayer agreed to pay up to $9.6 billion to settle most then-pending Roundup cases but failed to cover future claims. There are still over 50,000 pending claims.

SKYPE TU

公众号2

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End
Previous
Next

Comments

0/1000

You Missed

Why are fewer and fewer people trading? Perhaps this article can provide you with the answer.

Why are fewer and fewer people trading? Perhaps this article can provide you with the answer.

According to data provided by brokers, 40% of traders give up trading after one month, and only 7% remain active after five years.

亚伦_TK_LOXmv
亚伦_TK_LOXmv
2024-06-04
Investment
Investment
2024-06-04
U.S. elections and Middle East conflict boost uncertainty, driving gold prices higher.

U.S. elections and Middle East conflict boost uncertainty, driving gold prices higher.

With the US election nearing and Middle East tensions rising, risk aversion keeps gold prices high as markets watch Fed rate decisions and US economic data.

TraderKnows
TraderKnows
2024-10-30
Foreign Exchange Trading
Foreign Exchange Trading
2024-10-30
Indonesia's central bank to continue forex intervention, rupiah to strengthen next year.

Indonesia's central bank to continue forex intervention, rupiah to strengthen next year.

Recently, the Governor of the Bank of Indonesia, Perry Warjiyo, publicly stated that they will continue to intervene in the foreign exchange market to stabilize the rupiah.

TraderKnows
TraderKnows
2024-06-05
Foreign Exchange Trading
Foreign Exchange Trading
2024-06-05
Theo Broker Review:High Risk(Suspected Fraud)

Theo Broker Review:High Risk(Suspected Fraud)

Theo (Theo Technology Co., Ltd) is an online forex trading platform. This article evaluates Theo from perspectives like corporate entity, domain registration, regulatory licenses, staff, software, and trade types.

TraderKnows
TraderKnows
2024-05-14
Pig Butchering Scam
Pig Butchering Scam
2024-05-14
Is Opixtech a legitimate forex company? Are the high returns of Opix Algo real?

Is Opixtech a legitimate forex company? Are the high returns of Opix Algo real?

No matter how well Opixtech and Chen De disguise their forex funding scheme, they can't conceal its true nature as a Ponzi scheme.

TraderKnows
TraderKnows
2024-05-10
Ponzi Scheme
Ponzi Scheme
2024-05-10

Wiki

Compensation

Compensation refers to the act of providing economic restitution to the affected party by the defaulting party or the responsible party in the event of a breach, negligence, or other causes resulting in a loss to the other party in financial or commercial transactions.

Recent Post

Trump Invokes Defense Production Act with 850 Million USD for Coal Power to Meet AI Demand

19 hours ago

NY Fed Index Shows High Supply Chain Pressures as Geopolitical Conflicts Raise Global Inflation Con…

20 hours ago

Japan's Real Wages Rise for Fourth Consecutive Month, Fueling June BOJ Rate Hike Bets

19 hours ago

China Flexible Employment Exceeds 300 Million as Blue-Collar Wage Growth Outpaces White-Collar for…

19 hours ago

South Korean Stocks Post Steepest Weekly Drop Since March as Tech Valuations Reset

20 hours ago

China Commercial Paper Rates Drop in Early June Amid Rising Bank Demand

20 hours ago

UK House Prices Unexpectedly Fall in May as Geopolitical Tensions Push Up Borrowing Costs

20 hours ago

Massive Intervention Fails to Save Yen as Short Positions Surge Near Historic Lows

20 hours ago

AI Momentum Pauses as Broadcom Outlook Misses High Expectations; Markets Await Payrolls

20 hours ago

SpaceX Launches 75B USD IPO Roadshow as Access Blocked in Mainland China and Hong Kong

20 hours ago

Global Gold ETFs See $2 Billion Outflows in May as Capital Pivots to Tech Assets

20 hours ago

Nikkei Drops Over 1% on Tech Sector Pullback While Real Wage Growth Provides Support

20 hours ago

South Korea Lifts Mandatory Reporting for Crypto Transfers Over 10M Won

20 hours ago

Amundi Says Asian AI Stocks Supported by Fundamentals as Fed Path Poses Key Risk

20 hours ago

Taiwan Stocks Close 1.33% Lower on Broadcom Drop But Hold Key Technical Support

20 hours ago

You Missed

Why are fewer and fewer people trading? Perhaps this article can provide you with the answer.

Why are fewer and fewer people trading? Perhaps this article can provide you with the answer.

According to data provided by brokers, 40% of traders give up trading after one month, and only 7% remain active after five years.

亚伦_TK_LOXmv
亚伦_TK_LOXmv
2024-06-04
Investment
Investment
2024-06-04
U.S. elections and Middle East conflict boost uncertainty, driving gold prices higher.

U.S. elections and Middle East conflict boost uncertainty, driving gold prices higher.

With the US election nearing and Middle East tensions rising, risk aversion keeps gold prices high as markets watch Fed rate decisions and US economic data.

TraderKnows
TraderKnows
2024-10-30
Foreign Exchange Trading
Foreign Exchange Trading
2024-10-30
Indonesia's central bank to continue forex intervention, rupiah to strengthen next year.

Indonesia's central bank to continue forex intervention, rupiah to strengthen next year.

Recently, the Governor of the Bank of Indonesia, Perry Warjiyo, publicly stated that they will continue to intervene in the foreign exchange market to stabilize the rupiah.

TraderKnows
TraderKnows
2024-06-05
Foreign Exchange Trading
Foreign Exchange Trading
2024-06-05
Theo Broker Review:High Risk(Suspected Fraud)

Theo Broker Review:High Risk(Suspected Fraud)

Theo (Theo Technology Co., Ltd) is an online forex trading platform. This article evaluates Theo from perspectives like corporate entity, domain registration, regulatory licenses, staff, software, and trade types.

TraderKnows
TraderKnows
2024-05-14
Pig Butchering Scam
Pig Butchering Scam
2024-05-14
Is Opixtech a legitimate forex company? Are the high returns of Opix Algo real?

Is Opixtech a legitimate forex company? Are the high returns of Opix Algo real?

No matter how well Opixtech and Chen De disguise their forex funding scheme, they can't conceal its true nature as a Ponzi scheme.

TraderKnows
TraderKnows
2024-05-10
Ponzi Scheme
Ponzi Scheme
2024-05-10

Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.