Fabrib
Forumer storico
Bayer popped just before the close to finish +2.9% after a U.S. district judge cut the damages award it had owed a California man who blamed Roundup weedkiller for his cancer to $25.27M from $80.27M.
Judge Chhabria said he agreed that the evidence supported the $5.27M compensatory damages award and that the jury acted reasonably in awarding punitive damages, but he slashed punitive damages to $20M from $75M, saying it was "constitutionally impermissible" to award the higher amount, which was ~15x the size of the compensatory damages award.
Bayer says the ruling is "a step in the right direction" but still plans to appeal the verdict and damages award to the federal appeals court in San Francisco.
Judge Chhabria said he agreed that the evidence supported the $5.27M compensatory damages award and that the jury acted reasonably in awarding punitive damages, but he slashed punitive damages to $20M from $75M, saying it was "constitutionally impermissible" to award the higher amount, which was ~15x the size of the compensatory damages award.
Bayer says the ruling is "a step in the right direction" but still plans to appeal the verdict and damages award to the federal appeals court in San Francisco.
...