Bayer CEO Says Company Faces 13,400 Roundup Suits

Law360 (April 26, 2019, 7:52 PM EDT) -- Bayer AG's chief executive officer on Friday said the company faces 13,400 suits over the weedkiller Roundup as he defended last year's $63 billion acquisition of Monsanto to shareholders at an annual meeting.

Werner Baumann said that as of April 11 about 13,400 suits have been filed over the weedkiller, according to a speech prepared for the shareholder's meeting in Bonn, Germany.

While the number of lawsuits and two jury verdicts against the company are a heavy burden, and shareholders have seen a substantial decline in stock value, Baumann said the current share price doesn't reflect the true value of the...

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