The U.S. Supreme Court let stand an $87 million award against Bayer, rejecting the company for the second time in a week as it tries to fend off tens of thousands of claims that its top-selling Roundup weed killer causes cancer.
The justices making no comment Monday left in place a jury’s finding in favor of Alva and Alberta Pilliod in a California case.
Bayer argued that a federal law precluded the suit and that the $70 million punitive damages award was so large it violated the Constitution.
The court last week rejected Bayer’s appeal in a case the company was trying to use to scuttle billions of dollars in potential claims.
The company’s liability could be the full $16 billion it has set aside to resolve the litigation, according to Bloomberg Intelligence analyst Holly Froum.
Markets finish lower Monday
Stocks fell after last week’s powerful rally, with investors rebalancing their portfolios in the final days of the quarter.
At the start of a week expected to be marked by fickleness and lack of conviction on a market trough, the S&P 500 had a hard time finding direction throughout most of the day.
The tech-heavy Nasdaq 100 underperformed as Treasury yields climbed. The dollar was little changed.
From wire reports