Investors Sue Monsanto Over Herbicide Sales Drop

Law360, New York (July 30, 2010, 6:38 PM EDT) -- A New York state pension fund has hit Monsanto Co. with a putative class action claiming the pesticide giant artificially inflated the price of its stock by concealing a declining demand for its herbicide Roundup due to generic competition.

The Rochester Laborers Pension Fund alleges in a suit filed Thursday in the U.S. District Court for the Eastern District of Missouri that Monsanto failed to disclose that competition from Chinese producers of the generic herbicide glyphosate would force the U.S. company to slash its prices for...
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