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Bayer faces class action suit over Monsanto takeover in Germany, law firm says -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The logo and flags for Bayer AG can be seen outside the Wuppertal plant, Germany’s leading pharmaceutical and chemical manufacturer. REUTERS/Wolfgang Rattay/File Photo

BERLIN (Reuters), – Bayer is the target of a class action suit by investors for a $1 billion in Germany against Bayer (OTC). The lawsuit concerns Bayer’s takeover at seed company U.S. Monsanto (NYSE:), specialist law firm Tilp Rechtsanwaltsgesellschaft said on Wednesday.

Tilp stated that it represents more than 250 institutional and large private investors.

According to the law firm, the litigations have a value exceeding one billion euro ($1.13 trillion).

Tilp said it believed Bayer deceived shareholders about the risks of consumer lawsuits pending in the United States linked to the glyphosate-containing weed killer Roundup, which was brought into the company with the 2016 Monsanto acquisition.

Bayer claimed that all complaints are unfounded.

The group stated that Bayer had complied to the law as well as its disclosure requirements. “We will, therefore, defend ourselves.”

Bayer in America is fighting against thousands upon thousands of Roundup user lawsuits. Bayer has rejected all of this.

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