The prospect of a fresh trial that could overturn $250 million damages against Bayer’s (BAYGn.DE) Monsanto unit lifted the German company’s shares, after an August ruling that it failed to warn users of the alleged cancer risks of its weedkillers.
The original verdict wiped 10 percent off the value of the company and marked the first such decision against Monsanto and its glyphosate-containing weedkillers Roundup and Ranger Pro.
Bayer, which bought Monsanto this year for $63 billion, faces more than 8,000 similar lawsuits in the United States.
On Wednesday, in San Francisco’s Superior Court of California, Judge Suzanne Bolanos gave a tentative ruling to grant the company’s motion for a new trial.
Such decisions are usually finalised after a second hearing with few major changes.
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