US Stocks Move丨Bayer Surges Nearly 19%, with US Supreme Court Ruling in Favor of Company in Roundup Weedkiller Carcinogen Lawsuit
Bayer (BAYRY.US) rose nearly 19%, reaching as high as $13.37. On the news front, the US Supreme Court issued a ruling to protect Bayer from tens of thousands of lawsuits. These lawsuits allege that its Roundup weedkiller should have carried a warning on the label indicating it causes cancer. A majority of justices ruled that, given federal regulators have determined that no cancer warning needs to be added to the label, consumers cannot sue Bayer over this omission. The ruling is expected to put an end to a decade-long wave of litigation; so far, these lawsuits have cost Bayer more than $10 billion.
Bayer (BAYRY.US) rose nearly 19%, reaching as high as $13.37. On the news front, the US Supreme Court issued a ruling to protect Bayer from tens of thousands of lawsuits. These lawsuits allege that its Roundup weedkiller should have carried a warning on the label indicating it causes cancer. A majority of justices ruled that, given federal regulators have determined that no cancer warning needs to be added to the label, consumers cannot sue Bayer over this omission. The ruling is expected to put an end to a decade-long wave of litigation; so far, these lawsuits have cost Bayer more than $10 billion.