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PARIS/LYON (Reuters) - A French court has ruled that Monsanto was liable for the sickness of a farmer who inhaled one of its weedkillers, in another legal setback for the Bayer-owned business over health claims. In the latest stage of a decade-long legal tussle, the appeals court in Lyon on Thursday found in favour of farmer Paul Francois' claim that Monsanto's Lasso weedkiller had made him sick and that the product's labelling had been inadequate. "Mr Francois justifiably concludes that the product, due to its inadequate labelling that did not respect applicable regulations, did not offer the level of safety he could legitimately expect," the court said in its ruling.
Bayer's non-executive board reaffirmed its support for top management's decision to acquire seed maker Monsanto last year, after losing high-profile lawsuits to U.S. plaintiffs who claimed Monsanto's Roundup weedkiller caused their cancer. In documents posted on the company's website on Monday, the non-executive supervisory board said an expert opinion it commissioned from lawfirm Linklaters found that Bayer's management had complied with their duties when acquiring Monsanto for $63 billion last year. "The Supervisory Board extensively discussed this expert opinion and based on this also comes to the conclusion that the Board of Management acted in compliance with its duties," it said.
SAN FRANCISCO (AP) — A U.S. jury on Wednesday awarded more than $80 million in damages to a California man who blamed Roundup weed killer for his cancer, in a case that his attorneys say could help determine the fate of hundreds of similar lawsuits.
Massachusetts Sen. Elizabeth Warren is calling for the breakup of what she says are unfair farming monopolies. Warren says family farms struggle because "bad decisions in Washington have consistently ...
Are returns on invested capital likely to be greater than the weighted average cost of capital in the future? Does the company under consideration have one or more of the five sources of competitive advantage and are they sustainable? Warning! GuruFocus has detected 5 Warning Sign with KO.
SAN FRANCISCO (AP) — Roundup weed killer was a substantial factor in a California man's cancer, a jury determined Tuesday in the first phase of a trial that attorneys said could help determine the fate of hundreds of similar lawsuits.
India has cut the royalties that local seed companies pay to German drugmaker Bayer AG's Monsanto unit for the third time in four years. Prime Minister Narendra Modi's government has decided to reduce royalties paid by Indian seed companies to Monsanto for its genetically modified (GM) cotton by 49 percent to 20 rupees for a packet of 450 grams, according to a farm ministry order. The decision could prompt Monsanto and other foreign seed companies to further scale back investment in the sector, said Ram Kaundinya, director general of the Federation of Seed Industry of India.
SAN FRANCISCO (AP) — A jury in federal court in San Francisco will decide whether Roundup weed killer caused a California man's cancer in a trial starting Monday that plaintiffs' attorneys say could help determine the fate of hundreds of similar lawsuits.
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.
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.