The Law Offices of Frank R. Cruz reminds investors of the upcoming September 14, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Bayer Aktiengesellschaft ("Bayer" or the "Company") (OTC: BAYRY) American Depositary Receipts (“ADRs”) between May 23, 2016 and March 19, 2019, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click here to participate.
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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If you purchased or otherwise acquired Bayer securities during the Class Period, you may move the Court no later than September 14, 2020 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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