[ad_1]
A whole lot of traders declare Bayer misled them concerning the financial dangers of the $63bn acquisition, a legislation agency says.
Bayer faces a billion-dollar investor class motion lawsuit in Germany over the takeover of United States seed producer Monsanto, specialist legislation agency Tilp Rechtsanwaltsgesellschaft mentioned on Wednesday.
Tilp mentioned it was representing greater than 250 institutional traders and numerous non-public traders who believed Bayer misled them concerning the financial dangers of the $63bn acquisition and are demanding damages.
The worth of the lawsuits quantities to multiple billion euros ($1.13bn), the legislation agency mentioned.
Tilp mentioned it believed Bayer deceived shareholders concerning the dangers of client lawsuits pending within the US linked to the glyphosate-containing weedkiller Roundup, which was introduced into the corporate with the 2016 Monsanto acquisition.
Bayer mentioned any complaints have been unfounded.
“Bayer has complied with the legislation and with its disclosure necessities,” the group mentioned. “We are going to subsequently defend ourselves.”
Within the US, Bayer is defending itself in opposition to hundreds of lawsuits by Roundup customers due to the alleged carcinogenic impact of the weedkiller. Bayer has at all times rejected this.
[ad_2]
Leave a Reply