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FRANKFURT (Reuters) - Bayer on Tuesday said a hearing by a U.S. judge on a $2 billion deal to resolve future legal claims that its widely used weedkiller Roundup causes cancer has been postponed by one week until May 19, following previous delays.
Speaking at the German crop chemicals and seeds group's annual shareholder meeting, Chief Executive Werner Baumann said he was optimistic about the hearing to be chaired by judge Vince Chhabria, which would determine further proceedings. A final hearing would be held at yet a later stage, he added.
Bayer on Feb. 3 came to terms with plaintiffs' lawyers in a $2 billion pledge to resolve future claims, as the products in question, based on the glyphosate herbicide, will remain on the market.
Bayer, which stressed that leading global regulators have found Roundup to be safe, agreed in principle last year to settle U.S. claims that have already been lodged for up to $10.9 billion.
(Reporting by Ludwig Burger and Patricia Weiss; Editing by Riham Alkousaa)