Bayer’s stock climbed as much as 3% on Tuesday after a federal judge slashed a payout over its Roundup weed killer by nearly 70% to about $25 million.
A San Francisco jury determined Roundup caused a user to develop cancer and awarded him $75 million in punitive damages. The judge cut that to $20 million after deciding the original figure was “constitutionally impermissible” as it was too high relative to the $5.3 million in compensatory damages.
However, the judge said the conduct of Roundup-owner Monsanto, which Bayer acquired last year, was “reprehensible.”
More than 13,000 farmers, landscapers, and home gardeners have sued Bayer read more >>>