A U.S. judge on Tuesday said he would reduce an $80 million damage award against...
- A U.S. judge on Tuesday said he would reduce an $80 million damage award against Bayer AG to $50 million or less in the case of a man who blamed his cancer on glyphosate-based weed killer Roundup.
“It’s quite clear that under the Constitution I’m required to reduce the punitive damages award and it’s just a question of how much,” Chhabria said during a court hearing in which lawyers for both sides discussed the company’s request to overturn the verdict. Chhabria said he would issue a ruling by the end of next week.
The company faces lawsuits by more than 13,400 plaintiffs nationwide and a series of Roundup jury verdicts against Bayer have prompted its share price to plummet. Under pressure from activist shareholders, Bayer on Wednesday said it set up a committee to help resolve the litigation and hired an external lawyer to advise its supervisory board.
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