LOS ANGELES, July 21, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Bayer Aktiengesellschaft (OTC: BAYRY, BAYZF) investors that acquired shares between May 23, 2016 and March 19, 2019.
According to the lawsuit, the Company allegedly failed to disclose to investors that the Monsanto acquisition would burden Bayer with significant exposure to the risk of suffering billions of dollars in judgments and reputational damage, among other things, if lawsuits brought against Monsanto alleging that exposure to its glyphosate-based Roundup product caused cancer, were successful. As a result, defendants' positive statements about the prospects of the Monsanto acquisition and the benefits it would create for Bayer's business were materially false and/or misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 14, 2020.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.