Bayer proposed a new $7 billion settlement to resolve the Monsanto lawsuits.

Bayer is launching a new initiative that will cost billions of dollars to put an end to a legal nightmare surrounding the herbicide Roundup that has been going on for years. The German pharmaceutical and agricultural conglomerate announced on Tuesday that it has proposed a nationwide settlement to resolve claims regarding its flagship herbicide's link to cancer. The settlement plan includes setting aside over $7 billion to pay compensation over the next 21 years. Several law firms representing thousands of plaintiffs filed a motion on Tuesday seeking approval of the settlement plan. The proposal must be approved by a Missouri court, where there are a large number of pending Roundup cases.