Bayer faces German class trial over Monsanto deal | Business and Economic News

Hundreds of investors say Bayer was misled about the economic risks of buying $ 63 billion, according to a law firm.

Bayer has a $ 1 billion investor lawsuit against Germany for taking over U.S. seed manufacturer Monsanto in Germany, specialist lawyer Tilp Rechtsanwaltsgesellschaft said Wednesday.

Tilpe said he represented more than 250 institutional investors and a large number of private investors, believing that Bayer had misled the economic risks of the $ 63 billion purchase and was seeking compensation.

The value of the lawsuit is more than a billion euros ($ 1.30 billion), the law firm said.

Tilp said Bayer misled its shareholders about the risks of consumer litigation related to the glyphosate-containing roundup weed in the U.S., which was introduced to the company in 2016 with the purchase of Monsanto.

Bayer said any complaint was unfounded.

“Bayer has complied with the law and its disclosure requirements,” the group said. “So we’re going to defend ourselves.”

In the U.S., Bayer Roundup is suing thousands of users for its alleged carcinogenic effect. Bayer has always ruled that out.