MMM - German Conglomerate Bayer Goes Johnson & Johnson Way To Tackle Its Cancer Related Lawsuits | Benzinga
Bayer AG (OTC:BAYRY) (OTC:BAYZF) is reportedly considering utilizing the Texas Two-Step bankruptcy approach to tackle the onslaught of lawsuits in the United States implicating its Roundup weedkiller causing cancer.
With an array of recent expensive jury verdicts weighing heavily on the company, executives are strategizing with legal experts to employ this controversial tactic to halt upcoming trials and negotiate a comprehensive settlement for over 50,000 cases.
Also Read: Bayer Holds Splitting Into Separate Units For Three Years, Focus Shifts On Tackling Challenges.
This maneuver, named after a Texas state law, entails ...