An investor of Bayer AG has sued the company over the deal of acquiring Monsanto Company, which resulted in facing several lawsuits over the weedkiller Roundup.
Rebecca Haussmann, a shareholder of Bayer AG, said in a suit filed in New York state court in Manhattan that the company is facing numerous costly lawsuits over their product Roundup herbicide causing cancer. She said that the company is facing huge losses since acquiring Monsanto and has also resulted in going down of share prices of the company. She demanded compensation and punitive damages and also asked the court that the authorities of Bayer who are responsible for the Monsanto deal must step down from their roles.
According to the estimates, the number of plaintiffs faced by Bayer since July 2019 has grown up to 48,600 from 18,400. Even though the company has lost initial trials, it still claims that the herbicide is safe, and it may cost $10 billion to $13 billion as the settlement amount to the company over the lawsuits faced.
