Bayer AG shareholders are urging a California federal judge to greenlight a $38 million settlement that would close the book on claims the German pharmaceutical and chemical giant misled investors over Roundup’s litigation risks. Filed Friday, the investors said the deal—carrying more than $10 million in attorney fees—is both equitable and overdue.
The case, which has dragged on for five years, stems from accusations that Bayer downplayed looming liabilities tied to Roundup, Monsanto’s flagship weedkiller, before acquiring the agribusiness in 2018. Investors alleged the company’s assurances camouflaged a legal minefield that would later erupt into massive jury verdicts.
Hearing Set for October
U.S. District Judge Richard Seeborg, who preliminarily approved the settlement in June, called the agreement “fair, reasonable, and adequate.” A final hearing is scheduled for Oct. 30, where he will decide whether to make it official.
The parties first notified the court of their settlement in February, marking a rare turning point in a battle that had forced Bayer to repeatedly defend its Monsanto takeover in U.S. courts.
