Bayer Cites Pending Liquidity Issues
- Number of plaintiffs in weedkiller cases rises to 52,500
- Quarter’s results set the stage for Tuesday’s investor meeting
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Bayer AG raised the specter of “considerable liquidity challenges” as it engages in high-stakes negotiations over Roundup litigation in the U.S. and grapples with the pandemic.
The number of plaintiffs claiming that the weedkiller caused their cancers rose to 52,500 from 48,600 in February, Bayer said in its first-quarter earnings statement. It’s still too early to know how Covid-19 will impact this year’s results, but the outbreak has already slowed talks with plaintiff attorneys. Bayer said it’s pushing for a “financially reasonable” settlement that also resolves the potential for future claims.