Attorney Fees and Hours Logged
Plaintiffs’ counsel is asking for 27% of the settlement fund—roughly $10.3 million—arguing that the request reflects a justifiable adjustment from the Ninth Circuit’s 25% benchmark. They emphasized nearly 15,000 hours of professional time spent litigating the case.
They also requested $3.3 million in expenses, calling the figure “reasonable both in scope and magnitude” given the years of work poured into the action.
Roundup Verdicts Amplify Claims
Central to the complaint were investor claims that Bayer executives misrepresented due diligence in the Monsanto acquisition. Shortly after the $63 billion merger, Monsanto was slammed with back-to-back courtroom losses: a $289 million Roundup verdict in 2018—later reduced to $78 million—and an $80 million judgment in 2019.
Shareholders said Bayer failed to disclose these brewing legal storms, thereby understating liabilities and inflating profits in financial reports.
Judge Certifies the Class
In mid-2023, Judge Seeborg granted class certification to investors, rejecting Bayer’s argument that the case was barred by extraterritoriality principles. The certified class includes anyone who purchased Bayer’s American depositary receipts between May 23, 2016, and July 6, 2020.
