Bayer (BAYRY) announced plans to cut dividends to pay out only the legally required minimum for three years in the wake of high debt and increasing legal costs.
When a Philadelphia jury awarded $2.25 billion in damages this year in a case that linked Roundup to a cable technician’s blood cancer, the verdict became the largest yet in the long-running litigation over the popular Monsanto weed killer. Corporate parent Bayer had set aside more than $10 billion in 2020 to settle about 125,000 cases, many consolidated in California. “They try to show that non-Hodgkin lymphoma is just something that happens randomly,” said lawyer Tom Kline, who represented the Philadelphia plaintiff with co-counsel Jason Itkin.
Insights from Kahn Brothers (Trades, Portfolio)' Latest 13F Filing for Q4 2023