Bayer: in a spin following Monsanto lawsuit
(CercleFinance.com) - The Bayer stock is down 9% in early trading in Frankfurt today, hit by the heavy fine imposed on Monsanto by the US courts, the acquisition of which the German chemicals and health giant finalised in June this year.
For the record, last week the Saint-Louis agro-chemist was ordered by a judge in San Francisco to pay 289 million dollars in damages to a gardener who suffered from a cancer after his long-term use of Monsanto's RoundUp herbicide.
The company will appeal against this charge and nothing says that the verdict will be confirmed, nor could it even be considered as precedent for all other ongoing litigation. However, in the US, no less than 5,000 similar cases are reviewed by the courts... broker Aurel BGC points out.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
For the record, last week the Saint-Louis agro-chemist was ordered by a judge in San Francisco to pay 289 million dollars in damages to a gardener who suffered from a cancer after his long-term use of Monsanto's RoundUp herbicide.
The company will appeal against this charge and nothing says that the verdict will be confirmed, nor could it even be considered as precedent for all other ongoing litigation. However, in the US, no less than 5,000 similar cases are reviewed by the courts... broker Aurel BGC points out.
Copyright (c) 2018 CercleFinance.com. All rights reserved.