Bayer Faces Two German Court Cases Over Monsanto Weedkiller -WirtschaftsWoche
January 22 2021 - 7:47AM
Dow Jones News
--Bayer AG is being taken to court by law firms Hausfeld and
Tilp over the use of glyphosate in weedkiller, according to the
German finance magazine WirtschaftsWoche.
--Hausfeld's lawyers are seeking EUR37 million on behalf of U.S.
investor Kingstown Capital Management, while lawyers for Tilp
accuse Bayer of "breaching their duty under capital market law."
The firms say Bayer was aware of the risk of complaints regarding
allegations of a link between cancer and glyphosate succeeding when
it acquired Monsanto in June 2018.
--Bayer told The Wall Street Journal that the accusations are
unfounded and that they will defend themselves accordingly. The
company said it had acted at all times in accordance with all
obligations and the law. "We performed appropriate due diligence
with respect to the acquisition," the company said.
Full story: https://bit.ly/3qEFrdh
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(END) Dow Jones Newswires
January 22, 2021 07:32 ET (12:32 GMT)
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