The Klein Law Firm announces that a class action complaint has been filed on behalf of holders of Bayer Aktiengesellschaft (OTC: BAYRY) who purchased American Depositary Receipts between May 23, 2016 and March 19, 2019. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Bayer lawsuit alleges that 1) following its acquisition of Monsanto Company, Bayer could be at risk of suffering billions of dollars in judgments and reputational damage if the lawsuits brought against Monsanto alleging that exposure to its glyphosate-based Roundup product caused cancer were successful, 2) 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.
Shareholders have until September 14, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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