Legal dispute in the USA
Bayer can probably enclose many complaints about environmental chemicals
The environmental chemical PCB has been banned for decades, but has given the Agrarchemie Group Bayer expensive legal disputes in the United States. Now the DAX company can record a success.
Bayer can soon leave a significant part of the legal disputes in the United States around the environmental chemicals PCB. According to a communication, the pharmaceutical and agricultural group concluded a fundamental agreement on the settlement of all PCB cases to the school building Sky Valley Education Center (SVEC) in the state of Washington, except previous judgments for the company. The costs are covered by provisions and liabilities. The news was well received on the stock exchange: Bayer shares grew noticeably on Monday.
Bayer had already covered additional money for the US legal disputes around the weed destroyer glyphosate and PCB in the second quarter. Specifically, provisions and liabilities of 1.7 billion euros were booked, around 1.2 billion for glyphosate and 530 million for PCB.
Bayer had brought the complaints about glyphosate and PCB into the house through the 2018 Monsanto takeover, which cost over $ 60 billion. The wave of lawsuits has already cost the group billions of euros. For Bayer, the legal risks are a severe burden that CEO Bill Anderson wants to contain.
With regard to the PCB dispute cases, Bayer had referred to the settlement of a case and other possible comparisons in the disputes about alleged health damage by PCB in the school building SVEC. The plaintiffs blame the chemical that has been forbidden for decades, among other things, for brain damage.
dpa
Source: Stern
