By Ben Glickman, Dow Jones
A court has reduced the amount Bayer-owned Monsanto must pay in a recent case linked to Roundup by about 82%, or nearly $1.9 billion, easing the latest cost in the company’s drawn-out legal battle related to the weedkiller.
Monsanto will now be required to pay $350 million in punitive damages and just over $50 million in compensatory damages, according to court documents released on Tuesday. The company was originally ordered earlier this year to pay $2.25 billion in damages by a Philadelphia court.
Monsanto said on Tuesday it would seek an appeal in the Superior Court of Pennsylvania and that it disagreed with the court’s ruling on the liability verdict.
The jury in January sided with the plaintiff, who alleged that he developed cancer from exposure to Roundup, a weedkiller owned by Monsanto. Bayer has maintained that Roundup and its main ingredient, glyphosate, is safe to use, pointing to opinions from regulators that determine the compound isn’t a risk cancer risk.
To read the entire article click here.
