BAYRY - Bayer shares plunge after DoJ urges Roundup appeal rejection

Bayer (OTCPK:BAYRY) falls more than 7% in Europe on Wednesday after a U.S. Department of Justice brief recommended the Supreme Court reject the company's appeal to review a case linking its Roundup weedkiller to a type of cancer. Jefferies analysts say the DoJ's brief reduces the likelihood of the Supreme Court deciding to hear the case again, meaning that Bayer (OTCPK:BAYRY) likely will have to settle provisions for remaining cases and future cases involving Roundup. The Supreme Court had requested U.S. Solicitor General Elizabeth Prelogar for the Biden administration's view on whether Bayer's (OTCPK:BAYRY) appeal should be heard, and Prelogar rejected the company's contention that the Environmental Protection Agency label approval under the Federal Insecticide, Fungicide and Rodenticide Act preempts the "failure to warn" claims brought under state law. "EPA's approval of labeling that does not warn about particular chronic risks does not by itself preempt a state-law requirement to

For further details see:

Bayer shares plunge after DoJ urges Roundup appeal rejection