Monsanto has offered to pay up to $45 million to settle class action lawsuits that accuse the company of fraudulently advertising Roundup® weed-killing products without warning about cancer risks.
If approved, the settlement would allow consumers to seek up to 20% of the average retail price of any Roundup products they bought — or between 50 cents and $33 per product, depending on the size.
The settlement fund would range from $23 million to $45 million, and does not resolve any lawsuits involving cancer injuries, only fraud.
In a statement, Monsanto said it “believes the settlement is financially reasonable and in the best interest of the company, and it is taking this action for commercial reasons and not due to any safety concerns.”
Monsanto and its parent company, Bayer AG, are accused of illegally selling Roundup weed-killing products without warning consumers about the potential risk of cancer and other health problems.
Monsanto is also facing over 100,000 personal injury lawsuits involving people with cancer who were exposed to Roundup. Those cases are currently stalled in federal court, after Bayer offered to pay a $2 billion settlement to cover any future claims.
Last month, the federal judge overseeing the lawsuits rejected the $2 billion settlement as “clearly unreasonable.”
The company has already been hit with several multi-million dollar jury verdicts in California, including 2 that were upheld by appellate courts.