Stock value of Bayer drops following a jury’s decision to impose $2.25 billion in penalty fees in a lawsuit involving Roundup.

Evmark Business Solutions

Title: Bayer Shares Plummet After $2.25 Billion Roundup Lawsuit Ruling

The German pharmaceutical and agricultural company, Bayer, has faced yet another blow in its ongoing legal battle over its popular weed killer, Roundup. On Monday, a California jury ordered the company to pay $2.25 billion in damages to a couple who claimed that the product caused their cancer. This ruling has caused Bayer’s shares to plummet, adding to the company’s financial and reputational struggles.

The Ruling:
The ruling by the jury in Alameda County, California, marks the third consecutive loss for Bayer in U.S. courts over claims that Roundup’s active ingredient, glyphosate, causes cancer. The couple, Alva and Alberta Pilliod, both developed non-Hodgkin’s lymphoma after using Roundup for over 30 years on their property. The jury found that Bayer failed to warn consumers about the potential health risks associated with the product and awarded the couple $2 billion in punitive damages and $55 million in compensatory damages.

Impact on Bayer:
The news of the ruling caused Bayer’s shares to drop by 2.5%, wiping out over $5 billion in market value. This is the latest setback for the company, which has seen its stock price decline by more than 40% since it acquired Roundup’s maker, Monsanto, last year. Bayer now faces over 13,  

Share This Article
Leave a comment