San Francisco, California--(Newsfile Corp. - July 20, 2020) - Hagens Berman urges investors in Bayer Aktiengesellschaft (OTC Pink: BAYRY) who suffered $1 million or more in losses to submit their losses now for evaluation by the legal team. A securities fraud class action is pending, and certain investors may have valuable claims that would make them eligible to be a lead plaintiff. If you purchased BAYRY after May 23, 2016 and suffered significant losses, contact us.
Bayer Aktiengesellschaft (BAYRY) Securities Fraud Class Action:
This litigation is focused on whether Bayer misled investors about its due diligence performed when the company completed its acquisition of Roundup manufacturer Monsanto for approximately $63 billion in June 2018.
According to the complaint, Bayer repeatedly touted the acquisition as "a compelling growth transaction for shareholders" that would create "significant value" by generating "stronger growth, better profitability, and a more resilient business profile."
Moreover, according to the complaint, in the face of the International Agency for Research on Cancer's and the California EPA's findings that glyphosate (a Roundup ingredient) was probably carcinogenic to humans, defendants downplayed those Roundup carcinogenic liability risks and supported the Monsanto acquisition based on Bayer's "thorough analysis" during the due diligence process and because it "undertook appropriate due diligence of litigation and regulatory issues throughout the process."
Investors began to learn the truth, according to the complaint on August 10, 2018, when a California jury unanimously found that Roundup was a "substantial factor" in causing the plaintiff to develop non-Hodgkin's lymphoma and that Monsanto knew or should have known about this severe health hazard. Subsequently, the court denied Monsanto's motion for a new trial finding no legal basis to disturb the jury's determination.
Then, on March 19, 2019, a federal jury found "exposure to Roundup was a substantial factor in causing [plaintiff's] non-Hodgkin's lymphoma."
In response to these revelations, the price of Bayer ADRs traded sharply lower.
Documents revealed in trial show that if Bayer had indeed performed due diligence, it would have known of the great risk acquiring Monsanto truly threatened. "We're focused on investors' losses and proving Bayer knowingly misled investors about its knowledge or Roundup risks or claimed due diligence," said Reed Kathrein, the Hagens Berman partner leading the investigation.
Whistleblowers: Persons with non-public information regarding Bayer Aktiengesellschaft should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email BAYRY@hbsslaw.com.
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