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Logo of the Bayer Group at Cologne / Bonn Airport
Photo: Christoph Hardt / imago images / Future Image
New trouble for Bayer: Investors are suing for damages because of the share price losses in the wake of the glyphosate litigation.
The dpa news agency reports that a corresponding case is pending at the Cologne Regional Court.
The "Wirtschaftswoche" had previously reported that the law firms Tilp and Hausfeld were suing Bayer on behalf of various investors.
It is therefore about 37 million euros in damages.
Bayer defends itself against the allegations.
The plaintiffs accuse the group of having recognized the risk of litigation in the billion-dollar takeover of the glyphosate developer Monsanto in 2018 and informing shareholders accordingly.
Trial observers expected that an oral hearing would not take place until the end of 2021.
"We consider the lawsuits to be unfounded and will defend ourselves accordingly," said the Dax group, according to dpa.
They are convinced that they have acted in accordance with the applicable laws at all times.
Studies by independent experts have also confirmed this.
Bayer had previously lost three lawsuits in the United States for alleged cancer risks from the weed killer glyphosate.
The group was sentenced to millions in damages, but it is taking action.
Tens of thousands more lawsuits were or are still pending in the United States.
To get the matter out of the world, Bayer announced a large-scale, billion-dollar settlement in the summer of 2020.
However, the company emphasized that this was not an admission of guilt.
Bayer shares suffer heavy losses
Legal uncertainty has weighed heavily on Bayer shares in recent years.
Bayer paper currently costs around 44 percent less than before the first ruling against the group in summer 2018. Large and small investors are therefore harshly criticizing Bayer CEO Werner Baumann's management for the Monsanto purchase.
The legal risk was underestimated and not clearly communicated.
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bah / dpa / Reuters
