Bayer hit with $332M verdict in Roundup trial
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 1 November 2023
⏱️ 7 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Wednesday, November 1st, and I'm your host Julie Morgan. |
| 0:12.0 | Bear is hit with a multi-million dollar jury verdict |
| 0:15.3 | in another roundup cancer trial. |
| 0:17.7 | Real estate names took a hit |
| 0:19.5 | after the National Association of Realtors |
| 0:22.0 | and Brokerages were found guilty of collusion, and |
| 0:25.4 | we work could file bankruptcy next week. |
| 0:29.6 | Beers Monsanto Unit was ordered by a California jury to pay $332 million to a plaintiff who blamed |
| 0:36.7 | his cancer on his use of the company's Roundup weed killer. |
| 0:40.8 | Bloomberg reported on Tuesday that the jury awarded Michael Dennis $7 million in actual damages and $325 million in punitive damages. |
| 0:50.8 | Over his claims that 35 years of using round up on his lawns and gardens |
| 0:55.5 | caused his non-Hochkins lymphoma. It was Bayer's third trial loss in a month |
| 1:00.6 | after winning nine round-up cases in a row. |
| 1:04.0 | Last week the company was ordered by a Philadelphia jury to pay a retired pizza shop owner, |
| 1:09.5 | $175 million in damages over his cancer, and a St. Louis jury awarded $1.25 million to another man who blamed his cancer on roundup. |
| 1:19.6 | Morgan Stanley analysts said that the recent verdicts may signal Bayer will be forced to tap most or all of the $16 billion it has reserved to deal with roundup litigation costs. |
| 1:32.0 | The National Association of Realtors, Home Services of America and |
| 1:36.4 | Keller Williams were all found guilty of conspiring to inflate commission rates. The verdict |
| 1:42.1 | was reached by a jury in Kansas City, Missouri. |
| 1:45.0 | Following the verdict, Zillow retreated nearly 7%, Redfins slid 5.7%, |
| 1:51.0 | EXPI 8.7% E.X. P.I. 8.7%. |
... |
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