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Tag: $2 Billion

May 15, 2019

$2 Billion Verdict in Monsanto Roundup Case

Roundup Weed Killer

On May 13, 2019, a California jury awarded over two billion dollars to a husband and wife who alleged that they each developed cancer as a result of decades of using Monsanto’s weed-killer Roundup.  The Alameda County, California jury concluded that Roundup likely caused the plaintiffs’ non-Hodgkin’s lymphoma and awarded the couple $55 million in non-economic damages, $3.2 million in economic damages, and punitive damages of $2 billion against Monsanto.  The total award was more than double what the plaintiffs’ attorney suggested in closing arguments.  The case is the third case to be tried to a jury verdict involving Monsanto… Read more

Aug 29, 2018

ConocoPhillips Settles with Venezuela’s PDVSA to Recover $2 Billion

Arbitration Agreement

U.S. producer ConocoPhillips on Monday said Venezuela’s PDVSA agreed to pay $2 billion to settle an arbitration award, suspending a dispute that blocked the state-run oil firm from exporting crude from most of its key Caribbean facilities. The case relates to the nationalization of Conoco assets dating back over a decade in Venezuela. An international court ruled in favor of ConocoPhillips in April and ordered PDVSA to pay. But no payment has been forthcoming, leading Conoco to seize most of PDVSA’s Caribbean assets as it sought to enforce its claim. The settlement means that ConocoPhillips will suspend the legal enforcement,… Read more