Loving this result! Couldn’t happen to a better target.
Bayer’s stock price hit an almost seven-year low Tuesday, in the wake of a third U.S. jury verdict that found its Roundup weedkiller to be a cause of people’s cancer.
A Californian jury said Monday that Bayer had to pay Alva and Alberta Pilliod, both of whom had used the herbicide that Bayer acquired via Monsanto last year, $2 billion in punitive damages and $55 million in compensatory damages. The Pilliods both have non-Hodgkin’s lymphoma.
The level of punitive damages may be reduced on appeal, but right now it’s the eighth-biggest product-defect jury award in U.S. history.