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The Supreme Court ruled 7-2 that federal law preempts state requirements for cancer warnings on Roundup. Bayer shares rose more than 16 percent after the decision.
forbes.comThe Supreme Court ruled Thursday that Bayer is not liable for failing to warn users about potential cancer risks from its Roundup weedkiller, reversing a Missouri state court verdict that had awarded more than $1 million to plaintiff John Durnell. The 7-2 decision held that the Federal Insecticide, Fungicide, and Rodenticide Act overrides state labeling rules.
Because the Environmental Protection Agency has classified glyphosate as unlikely to be a human carcinogen, the company had no federal duty to add a cancer warning.
Background on the Case Durnell sued in Missouri state court after contracting non-Hodgkin’s lymphoma, arguing that state law required a warning label on Roundup. A jury sided with him and ordered the company to pay damages. Bayer, which acquired Monsanto in 2018 and retired the Monsanto name, appealed on the grounds that federal pesticide law controls labeling and preempts conflicting state claims.
Bloomberg reported that roughly 67,000 Roundup cases remained pending as of February. Bayer had proposed a $7 billion settlement to resolve both current and future claims. The Associated Press reported in April that individuals who developed cancer after using Roundup could still receive payments from a settlement fund even if the company prevailed at the Supreme Court, though awards would likely range between $10,000 and $165,000.
Tarah Heinzen, legal director at Food and Water Watch, called the ruling a “disaster for public health” that sided with big business over people and the environment. Bayer shares jumped more than 16 percent on the day of the ruling.
The Federal Reserve's preferred inflation gauge increased 0.3 percent in May. Core prices rose 3.4 percent over the 12 months ending in May.
activistpost.comThe UN's shipping agency suspended its vessel evacuation program in the Strait of Hormuz following an attack on a cargo ship near Oman. The targeted vessel was struck by an unknown projectile with no casualties reported. The pause will continue until officials gain more clarity o…
cnbc.comA Federal Reserve official stated that price pressures are expected to stay elevated in the near term and described the current policy stance as fitting existing conditions. No signals were given about near-term interest rate changes.