|Company Name||Bayer Aktiengesellschaft|
|Class Period||May 23, 2016 to March 19, 2019|
|Lead Plaintiff Motion Deadline||September 14, 2020|
In June 2018, Bayer acquired Monsanto Company ("Monsanto"), a provider of agricultural chemicals and other products.
On August 10, 2018, a jury found that Monsanto must pay $39 million in compensatory damages and $250 million in punitive damages, finding found that its Roundup weed killer was a "substantial factor" in causing the plaintiff to develop non-Hodgkin's lymphoma and that Monsanto knew, or should have known, the risks associated with exposure to the chemical and failed to warn of this severe health hazard.
On this news, the Company's share price fell $3.00, or 11%, to close at $23.59 per share on August 13, 2018.
Then, on March 19, 2019, another jury issued a verdict on causation, finding that plaintiff's "exposure to Roundup was a substantial factor in causing his non-Hodgkin's lymphoma."
On this news, the Company's share price fell $1.82, or 9%, to close at $17.85 per share on March 20, 2019, on unusually heavy trading volume.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose: (1) that the acquisition of Monsanto would cause the Company to suffer from exposure to massive judgements and reputational damage if lawsuits related to Monsanto's Roundup product were successful; (2) that the Company's positive statements about the prospects of the Monsanto acquisition and the benefits it would create were false; (3) as a result, the Company's public statements throughout the class period were false and materially misleading.
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