FRANKFURT - Chemicals giant Bayer, under pressure from activist shareholders, said on Wednesday it has hired an external lawyer to advise its supervisory board and has set up a new committee to resolve a multi-billion dollar glyphosate litigation issue.
Bayer faces massive legal issues in the United States where more than 13,400 plaintiffs allege the company’s glyphosate weedkiller Roundup, produced by U.S. unit Monsanto, caused cancer and that the company failed to warn about that risk. Bayer denies this. “His appointment is intended to add fresh and independent perspectives to the advice given to the Board of Management,” the company said in a statement on Wednesday.
Bayer, which acquired Monsanto in a $63 billion deal last year, says studies and regulators have deemed glyphosate and Roundup safe for human use.
Source: Law Daily Report (lawdailyreport.net)
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