Today, Bayer AG, in its quarterly earnings statement referenced a “provision” amount (an amount generally put aside from profit to meet probable future expense) primarily for litigation with the State of Oregon.
In January of 2018, the State of Oregon filed a lawsuit against Monsanto Company, (a subsidiary of Bayer AG), Solutia, Inc., and Pharmacia LLC, to recover damages for contamination related to polychlorinated biphenyls, highly toxic chemicals known more commonly as “PCBs”.
Trial was to begin in late May, but was reset, in order for the parties to negotiate a settlement of the case. The case was set over until the spring, in the event a settlement is not concluded. Absent a settlement, Oregon is confident of its case and will pursue its claims vigorously.
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