NEW YORK/FRANKFURT: Bayer AG has not offered to pay billions of dollars to settle claims in the United States related to the Roundup herbicide, mediator Ken Feinberg said, dismissing a report to that effect which drove its shares as much as 11per cent higher.
Bayer Chief Executive Werner Baumann last week said the company would consider settling with U.S. plaintiffs only on reasonable terms, and if it"achieves finality of the overall litigation". "The problem is, how do you get the plaintiffs to climb down from their very high expectations? None of the jury verdicts so far have been favorable for Bayer," one of the sources said, adding that talks were focused on basic questions such as how to handle potential future claims.
The company, which says regulators and extensive research have found glyphosate to be safe, has previously said it was banking on U.S. appeals courts to reverse or tone down three initial court rulings that have so far awarded tens of millions of dollars to each plaintiff.
Source: News Formal (newsformal.com)
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