- Bayer (OTCPK:BAYRY) surged more than 9% into the close following news that its Monsanto unit will get a new trial on the $250M in punitive damages awarded by a jury to a dying man who alleged the company’s Roundup weedkiller gave him cancer.
- A judge at San Francisco’s Superior Court of California granted the company’s motion for a new trial on punitive damages, according to court filings.
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In August, a jury said Monsanto failed to warn the man and other consumers of the cancer risks posed by its glyphosate-based weedkillers, and awarded $39M in compensatory damages and $250M in punitive damages.