Articles Tagged with Ken Feinberg

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Roundup Settlement News
All you have to do is Google a phrase like “Roundup Settlement” and you will get plenty to read. Some articles suggest a massive settlement agreement may be announced any day, while another post may trumpet: “Parties Still Far Apart on Roundup Settlement.” Who is right? The truth is, aside from a very few people, like chief mediator Kenneth Feinberg, no one can say for sure. But this much is true: multi-billion-dollar settlements in massive product liability cases take a long time to complete.

What We Know

So this is what we know as of today: Bayer AG and Monsanto, the two corporate defendants, have been in negotiations with the plaintiffs’ executive teams for several months to attempt a settlement that is reasonable and fair. Multiple media outlets, including The New York Times, are reporting that both sides are discussing a settlement that could involve tens of thousands of plaintiffs and may reach $10 billion dollars. A few media reports indicate the sides are getting closer to a settlement. And if so, that is good news. Still, even though the Wall Street Journal has recently reported that “draft settlement terms” have been reached between defendants and several larger plaintiffs’ law firms, the article also stated that “[a] formal deal hasn’t been signed and could yet fall apart.” So be very cautious about optimistic reports of settlements. Often the final, smaller details are the hardest to hammer out.

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Settlement talks have begun in the Roundup non-Hodgkin lymphoma litigation
Last week news media outlets reported that Bayer AG and Monsanto had offered to settle United States Roundup cases for an amount up to $8,000,000,000. That’s eight billion dollars. If true, it would be welcome news, or at least a good start, as there are currently over 18,000 cases filed against the companies. These lawsuits allege that extended exposure to Roundup caused plaintiffs to develop non-Hodgkin lymphoma (NHL), a serious cancer that can spread to lymph nodes throughout the body. For plaintiffs afflicted with a serious illness like NHL, news that a global settlement has been achieved is always welcome, because these plaintiffs need compensation as soon as possible, and years of expensive litigation is not good for anyone (except maybe defense lawyers).

The news reports of settlement flashed across the Internet, as such things do, perhaps encouraged by recent statements made by Bayer’s CEO that the company would consider settling on reasonable terms if all United States cases could resolve. Further, Bayer and Monsanto recently lost a Roundup case where a California jury awarded a couple $2 billion dollars for the non-Hodgkin lymphoma they both contracted after using Roundup for years. You can read about that $2 billion Roundup verdict here.

Despite all that, on Friday Mediator Ken Feinberg issued a statement that “Bayer has not proposed paying $8 billion to settle all the U.S. Roundup cancer claims. Such a statement is pure fiction,” and that “[c]ompensation has not even been discussed in the global mediation discussions.” So there you have it. At this point I would recommend you listen to Mr. Feinberg’s statement, as he is a central figure in the Roundup settlement talks.

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