Bayer, Investors Get $38 Million Deal on Monsanto Finalized (1)

Bayer AG‘s $38 million class settlement of US investor claims over its purchase of Roundup maker Monsanto Co. merits final approval, a federal court ruled.

The 9% recovery of maximum potential damages and the risks of continued litigation support the deal’s finalization, Chief Judge Richard Seeborg of the US District Court for the Northern District of California said on Thursday. Seeborg also approved 27%, or about $9.4 million, in fees for the investors’ attorneys, higher than the 25% benchmark within the Ninth Circuit—along with nearly $3.3 million in expenses—in the five-year-old case.

The pension funds representing the class alleged ...