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U.S. NEWS Tuesday 14 May 2019

Jury: Monsanto to pay $2 billion in weed killer cancer case

By PAUL ELIAS "The verdict in this trial has
Associated Press no impact on future cases
SAN FRANCISCO (AP) — A and trials, as each one has
jury on Monday ordered its own factual and legal
agribusiness giant Monsan- circumstances," the com-
to Co. to pay a combined pany said.
$2.055 billion to a couple The company noted that
claiming that the com- none of the California ver-
pany's popular weed killer dicts has been considered
Roundup Ready caused by an appeals court and
their cancers. that the U.S. Environmental
The jury's verdict is the Protection Agency consid-
third such courtroom loss ers the weed killer safe.
for Monsanto in California The EPA reaffirmed its posi-
since August, but a San tion in April, saying that the
Francisco law professor active ingredient glypho-
said it's likely a trial judge or sate found in the weed
appellate court will signifi- killer posed "no risks of con-
cantly reduce the punitive cern" for people exposed
damage award. to it by any means — on
The state court jury in Oak- farms, in yards and along
land concluded that Mon- roadsides, or as residue left
santo's weed killer caused on food crops.
the non-Hodgkin's lympho- "There is zero chance it will In this Feb. 24, 2019, file photo, containers of Roundup are displayed on a store shelf in San Fran-
ma Alva Pilliod and Alberta stand," said University of cisco.
Pilliod each contracted. California, Hastings School Associated Press
Jurors awarded them each of Law professor David
$1 billion in punitive dam- Levine. He said the ratio billion last year and Bayer's
ages in addition to a com- between the $2 billion in top managers are facing
bined $55 million in com- punitive damages and $55 shareholder discontent.
pensatory damages. million in compensatory Chairman Werner Wenning
A federal jury in San Fran- damages is too high. He told shareholders at Bayer's
cisco ordered the weed said judges rarely allow pu- annual general meeting in /arubatoday/
killer maker in March to pay nitive damages to exceed Bonn last month that com-
a Sonoma County man four times actual damages pany leaders "very much
$80 million. A San Francisco awarded. regret" falls in its share
jury last August awarded The California Supreme price. At the same time,
$289 million to a former Court ruled in 2016 that any CEO Werner Baumann in-
golf course greens keeper punitive damages exceed- sisted that "the acquisition
who blamed his cancer ing 10 times the compen- of Monsanto was and re-
on Monsanto's Roundup satory damages are likely mains the right move for
Ready herbicide. A judge unconstitutionally high. The Bayer."
later reduced the award court didn't propose a ra- Bayer's stock price closed
by $200 million. tio it felt correct, but said Monday at $15.91 a share,
The three California trials punitive damages should down 45 cents or 2.76 per-
were the first of an estimat- almost never exceed nine cent per share, in trading
ed 13,000 lawsuits pending times actual damages, it on the New York Stock Ex-
against Monsanto across said. change. The verdict was
the country to go to trial. The punitive damages announced after the trad-
St. Louis-based Monsanto awarded Monday are 36 ing session closed.
is owned by the German times the actual damages. Bayer's share price has
chemical giant Bayer A.G. The lawsuits have battered lost half its value since it
Bayer said Monday that it Bayer's stock since it pur- reached s 52-week high of
would appeal the verdict. chased Monsanto for $63 $32.80 a share.q