Sheet Metal Workers National Pension Fund et al v. Bayer et al

3:20-cv-04737-RS
July 15, 2020
Provisional judgment
United States

Economic stakeholders
Sheet Metal Workers National Pension Fund, City of Grand Rapids General Retirement System, City of Grand Rapids Police & Fire Retirement System
Bayer
No description

Civil court
Class action
Herbicide, Glyphosate, Roundup
Plaintiffs sue Bayer for three categories of misstatements in the buy-out of Monsanto: statements about the company’s due diligence when acquiring Monsanto; statements about the safety of a particular chemical ingredient used in Monsanto’s herbicide Roundup; and certain legal risks associated with the herbicide, which various product liability lawsuits later claimed was carcinogenic.
United States District Court for the Northern District of California, United States
Court

October 19, 2021
Partially Positive
Defendants’ motion to dismiss is denied.
National law

Bayer shareholders have filed a lawsuit against the company, which they accuse of not informing them about the risks associated with glyphosate when it acquired Monsanto in 2018, and are seeking damages. They consider three categories of misstatements in the buy-out of Monsanto: statements about the company’s due diligence when acquiring Monsanto; statements about the safety of a particular chemical ingredient used in Monsanto’s herbicide Roundup; and certain legal risks associated with the herbicide, which various product liability lawsuits later claimed was carcinogenic. On March, 22, 2021 defendants move to dismiss for failure to plead falsity, scienter, and loss causation. On October 19, 2021, The Court held that plaintiffs adequately alleged actionable misrepresentations and scienter with respect to some of the challenged statements, and further held that plaintiffs adequately alleged loss causation for those statements. Defendants’ motion is denied.