Bayer Wins U.S. Court Ruling in Roundup Case; Shares Surge 12%

Aug 16, 2024, 10:52 AM

Bayer achieved a significant legal victory in its ongoing litigation concerning the Roundup weed killer. The 3rd U.S. Circuit Court of Appeals in Philadelphia ruled in favor of Bayer, stating that federal law protects the company from a lawsuit filed by David Schaffner, a Pennsylvania landscaper diagnosed with non-Hodgkins in 2006. Schaffner had claimed that Bayer's Monsanto unit failed to include a cancer warning on the Roundup label. This decision marks a crucial win for Bayer, potentially influencing similar cases in state courts. Following the court's decision, Bayer's shares surged, rising by as much as 12%, reflecting investor confidence in the company's legal standing.