Bayer Reaches Settlement in Sky Valley PCB Chemical Cases
Settlement Agreements: Bayer has reached agreements in principle with over 200 plaintiffs to resolve product liability cases related to PCBs, with payments already reflected in recent financial reports.
Confidential Terms: The terms of the settlements involving Bayer's Monsanto unit are confidential and pending final approval from all parties involved.
Stock Performance: Following the announcement, Bayer's shares rose by 2.7%, reaching a two-week high, despite previous adverse verdicts in related litigation still being under appeal.
Historical Context: PCBs, produced by Monsanto until 1977, were banned due to their links to health issues, including cancer, and Bayer has set aside significant provisions for ongoing litigation related to both PCBs and Roundup weedkiller.
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