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Rating Action: Moody's withdraws Monsanto Company ratings. Global Credit Research- 12 Feb 2019. Approximately $1.0 billion of rated debt affected.
German drugmaker Bayer AG's Monsanto unit has won proceedings against Indian seed maker Nuziveedu Seeds Ltd (NSL) in a royalty dispute, lawyers familiar with the matter said. The lawyers, who did not wish to be named as the decision was not public, did not disclose the terms of the arbitration ruling. Mahyco Monsanto Biotech (India) (MMB), a joint venture between Missouri-based Monsanto and India's Maharashtra Hybrid Seeds Co (Mahyco), "has received a favourable award from the arbitration panel in the proceedings against NSL and Prabhat", a Bayer spokesman said in an e-mailed statement when asked about the ruling.
A decade-old lawsuit in which a French farmer with neurological problems accuses Monsanto of not providing adequate safety warnings for a weedkiller returns to court on Wednesday, adding to health claims faced by the Bayer-owned firm. Paul Francois, who says he fell ill after inhaling vapour from weedkiller Lasso in 2004, won rulings in 2012 and 2015 that found Monsanto liable for the intoxication, before France's top court overturned those decisions and ordered a new hearing. An appeal court in the southeastern French city of Lyon will hear arguments on Wednesday before giving its verdict at a later date.
NEW DELHI/MUMBAI (Reuters) - India's Supreme Court ruled on Tuesday that Monsanto can claim patents on its genetically modified (GM) cotton seeds, a victory for the U.S. company that is expected to encourage biotechnology firms to step up investment in the country. The decision on appeal overturns an earlier ruling by the Delhi High Court that Monsanto - the world's biggest seed maker, which has been bought by Germany's Bayer AG - could not claim patents on GM cotton seeds.
A nationalist group close to Indian Prime Minister Narendra Modi's party said on Tuesday it would seek a legislative amendment to the rules governing patents, after the country's top court ruled in favour of Monsanto's cotton seed patent. The Supreme Court allowed Monsanto to claim patents on its genetically modified cotton seeds in the world's biggest producer of the fibre, overturning a decision of a lower court.
SolomonEdwards, a national professional services firm, has added Kimberly Rodichok to its consulting team as a Director in their Technical Accounting and Regulatory Advisory Services Practice. As Director, Kimberly joins Brian McAuliffe, both of whom will support Greater Washington D.C. metro businesses in the areas of business transformation and project management. Kimberly, a seasoned management consultant with an accomplished history of providing counsel to federal clients, has a proven track record of effectively overseeing teams and elaborate projects.
A San Francisco judge on Monday upheld a jury verdict that found Monsanto liable for not warning a groundskeeper that its weed killer Roundup might cause cancer, but slashed the damages award.
A Brazilian appeals court denied a request this month by Monsanto's local unit to suspend licensing of its popular Intacta soy seed technology to privately owned seed maker Sementes Talismã, according to a ruling seen by Reuters. Monsanto sought to suspend the licensing of the genetically modified seed technology after Talismã filed for bankruptcy protection in January, one of the seed maker's lawyers, Daniel Amaral of DASA Advogados in São Paulo, said. "Monsanto sought to end the licensing contract to try and negotiate better terms in Talismã's ongoing financial restructuring," Amaral said.
SAN FRANCISCO (AP) — Jurors who found that agribusiness giant Monsanto's Roundup weed killer contributed to a school groundskeeper's cancer are urging a San Francisco judge not to throw out the bulk of their $289 million award in his favor, a newspaper reported Monday.
LONDON (AP) — Executives around the world are cooling to the idea of mergers and acquisitions in the face of rising trade tensions, notably between the U.S. and China, a leading adviser on international corporate deals said Monday.
The company said in motions filed in San Francisco's Superior Court of California that the jury's decision was insufficiently supported by the evidence presented at trial by school groundskeeper Dewayne Johnson. Johnson's case, filed in 2016, was fast-tracked for trial due to the severity of his non-Hodgkin's lymphoma, a cancer of the lymph system, that he alleged was caused by years of exposure to Roundup and Ranger Pro, another Monsanto herbicide that contains glyphosate. Monsanto asked Superior Court Judge Suzanne Bolanos, who oversaw the trial, to set aside the verdict or, in the alternative, reduce the award or grant a new trial.
Bayer cut its earnings forecast on Wednesday due to delays to its $63 billion takeover of Monsanto, and said sales of its consumer care products fell, hitting its shares, already reeling from a legal battle over the weed killer Roundup. The weaker earnings forecast adds to a number of challenges facing the German drugmaker as it braces for years of legal wrangling over the alleged cancer risks of glyphosate-based weedkillers. Bayer said the number of plaintiffs seeking damages over Monsanto's Roundup and Ranger Pro herbicides had risen to 8,700 from 8,000 from last month, and said that it expected more to sue.
The groups, which filed a lawsuit in February, want the court to force the EPA to vacate its approval of XtendiMax, arguing it not only harms nearby crops and plants but wildlife as well. It is not clear whether the court has the authority to revoke an EPA approval. The United States has faced a weed-killer crisis caused by the new formulations of dicamba-based herbicides, which farmers and weed experts say have harmed crops because they evaporate and drift away from where they are applied.
Bayer can begin folding Monsanto into its organisation as the antitrust-related sale of assets has been completed, fulfilling final requirements by the U.S. Department of Justice, the German drugmaker said on Thursday. "The integration of Monsanto into the Bayer Group can begin following the completion on Thursday of the divestment by Bayer to BASF of certain Crop Science businesses with a total sales volume of around 2.2 billion euros," it said in a statement. Bayer already closed the deal, becoming the sole owner of Monsanto, on June 7 but had to hold off on the integration.
America's two biggest independent seed sellers, Beck's Hybrids and Stine Seed, told Reuters they are pushing U.S. environmental regulators to bar farmers from spraying dicamba weed killer during upcoming summers in a potential blow to Bayer AG's Monsanto Co. Limiting spraying of the chemical to the spring season, before crops are planted, would prevent farmers from using the herbicide on dicamba-resistant soybeans that Monsanto engineered. The seeds are sold by companies including Beck's and Stine.
Bayer AG unit Monsanto faces long odds on an appeal blaming an "inflamed" jury and "junk science" for a verdict of $289 million in damages to a man who said the company's Roundup weed killer caused his cancer, according to some legal experts. Last week's verdict ended the first trial over whether glyphosate, the main ingredient in Roundup, causes cancer. Monsanto, which says decades of scientific studies have shown Roundup and glyphosate are safe, is facing about 5,000 similar lawsuits nationwide.
Last week's verdict ended the first trial over whether glyphosate, the main ingredient in Roundup, causes cancer. Monsanto, which says decades of scientific studies have shown Roundup and glyphosate are safe, is facing about 5,000 similar lawsuits nationwide. Monsanto said on Monday it planned to challenge the verdict on the grounds that the judge should have barred scientific evidence presented by California school groundskeeper Dewayne Johnson's lawyers as insufficient.
Bayer (BAYGn.DE) shares plunged as much as 14 percent on Monday, losing about $14 billion (£10.95 billion) in value, after newly acquired Monsanto was ordered to pay $289 million in damages in the first of possibly thousands of U.S. lawsuits over alleged links between a weedkiller and cancer. After the verdict in favour of a California school groundskeeper with terminal cancer, Monsanto faces more than 5,000 similar lawsuits across the United States over claims it did not warn of the cancer risks of glyphosate-based weedkillers, including its Roundup brand. Monsanto, bought by Bayer this year for $63 billion, said that it would appeal against the jury's verdict in California, which is the latest episode in a long-running debate over claims that exposure to Roundup can cause cancer.
SAN FRANCISCO (AP) — A San Francisco jury on Friday ordered agribusiness giant Monsanto to pay $289 million to a former school groundskeeper dying of cancer, saying the company's popular Roundup weed killer contributed to his disease.
The case of school groundskeeper Dewayne Johnson was the first lawsuit to go to trial alleging glyphosate causes cancer. Monsanto, a unit of Bayer AG (BAYGn.DE) following a $62.5 billion acquisition by the German conglomerate, faces more than 5,000 similar lawsuits across the United States. The jury at San Francisco's Superior Court of California deliberated for three days before finding that Monsanto had failed to warn Johnson and other consumers of the cancer risks posed by its weed killers.
Martin Tripp, a former employee of Tesla Inc (NASDAQ:TSLA), is not backing down. The allegations include misleading statements from Tesla Inc about production levels of the Model 3 (by as much as 44%), damaged batteries (that included punctures) and the reuse of old parts. Well, Tesla Inc believes that Tripp hacked confidential information and provided it to third parties.
Will pot get a political boost from Congress? With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Brian Kelly, Steve Grasso and Guy Adami.