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A Philadelphia court on Tuesday slashed a $2.25B verdict against Bayer (OTCPK:BAYRY) (OTCPK:BAYZF) to $400M for a man who said he developed cancer from exposure to the company’s Roundup weedkiller.
Bayer-owned (OTCPK:BAYRY) (OTCPK:BAYZF) Monsanto will now be required to pay $350M in punitive damages and slightly more than $50M in compensatory damages in the case, according to court documents.
The company said it continues to disagree with the ruling on the liability verdict and will seek an appeal at the Superior Court of Pennsylvania.
“While the court’s decision reduces the unconstitutionally excessive damage award, we still disagree with the ruling on the liability verdict, as the trial was marred by significant and reversible errors,” Bayer (OTCPK:BAYRY) (OTCPK:BAYZF) said.
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