Bayer Wins Legal Battle Over Roundup, Shares Surge 5% to 10%

Aug 16, 2024, 07:44 AM

Bayer achieved a significant legal victory in its ongoing litigation concerning the Roundup weed killer, which has been linked to cancer claims. A US appeals court ruled on August 15 that federal law protects Bayer from a lawsuit filed by a Pennsylvania landscaper, potentially undermining similar claims in state courts. This ruling has positively impacted Bayer's stock, with shares rising by 5% to 10% following the announcement. The decision marks a pivotal moment for Bayer and its subsidiary Monsanto in their efforts to limit liability related to Roundup.