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Bayer (OTCPK:BAYRY) (OTCPK:BAYZF) agreed to pay $160 million to settle a lawsuit filed by town of Seattle, Washington, the place the corporate stated its Monsanto subsidiary contaminated the Duwamish River with banned chemical compounds. is the most important air pollution incident The one settlement in an eight-year authorized battle, The Related Press reported Thursday.
The town accuses Monsanto of producing and promoting polychlorinated biphenyls (PCBs), inflicting a public nuisance, contaminating municipal stormwater drainage techniques and polluting rivers.
Though Monsanto stopped making PCBs in 1977, the chemical compounds stay in constructing paint, caulk and sealants, so stormwater flowing into the Duwamish River is consistently uncovered to PCBs, the lawsuit says. benzene air pollution.
Bayer ( OTCPK:BAYRY ) ( OTCPK:BAYZF ) didn’t admit any wrongdoing within the settlement however stated in court docket paperwork that town is in search of greater than $700 million in damages associated to the contamination.
The corporate stated $35 million of the $160 million settlement will probably be used for PCB repairs and the remaining $125 million will probably be used to reimburse town for cleanup, authorized and different prices.
