BAYRY - Supreme Court takes no action yet on Bayer's bid to dismiss Roundup suits

The U.S. Supreme Court took no action on Monday in Bayer's (OTCPK:BAYRY) effort to dismiss legal claims by customers who contend the company's Roundup weedkiller causes cancer, apparently meaning it will not issue a decision until next week. Bayer has asked the Court to take up its appeal of a lower court decision that upheld $25M in damages awarded to a Roundup user in California who blamed his cancer on the company's glyphosate-based weedkiller. The Roundup litigation is critical to the company, which already has earmarked $16B in total to deal with the problem. Credit Suisse analysts have said that they see a low probability of the case being heard, noting the Supreme Court accepts less than 1% of petitioned cases. Bayer (OTCPK:BAYRY) scored a small victory on Friday when a Missouri court ruled in its favor in a trial regarding claims that Roundup causes cancer, which marked a third

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Supreme Court takes no action yet on Bayer's bid to dismiss Roundup suits