Bayer: to set up special committee on glyphosate litigation
(CercleFinance.com) - Germany's Bayer is to set up a special committee to address the company's mounting litigation on the glyphosate, a weed killer believed to be carcinogenic, the chemicals group said on Thursday.
The newly established committee will monitor ongoing cases, consult with the board of management and make recommendations on the legal strategy, it said.
It will also be composed of shareholder and employee representatives and eight supervisory board members.
The move comes after many shareholders expressed concerns about the challenges relating to Bayer's numerous trials linked to the glyphosate at the group's recent AGM.
In addition, Bayer said that it has hired US lawyer John H. Beisner to advise the supervisory board on matters relating to glyphosate litigation, including trial tactics and mediation.
The Washington-based lawyer represented BP in the oil-spill case of 2010.
According to Bayer, the number of lawsuits in the US regarding glyphosate has reached 13,400.
The Bayer share was up over 6% on the news on Thursday morning.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The newly established committee will monitor ongoing cases, consult with the board of management and make recommendations on the legal strategy, it said.
It will also be composed of shareholder and employee representatives and eight supervisory board members.
The move comes after many shareholders expressed concerns about the challenges relating to Bayer's numerous trials linked to the glyphosate at the group's recent AGM.
In addition, Bayer said that it has hired US lawyer John H. Beisner to advise the supervisory board on matters relating to glyphosate litigation, including trial tactics and mediation.
The Washington-based lawyer represented BP in the oil-spill case of 2010.
According to Bayer, the number of lawsuits in the US regarding glyphosate has reached 13,400.
The Bayer share was up over 6% on the news on Thursday morning.
Copyright (c) 2019 CercleFinance.com. All rights reserved.