When the vultures see a carcase in the realm of business and finance, then the carrion truly decide to carry on with ripping flesh off of the roadkill. Earlier today, two pension funds located in the state of Michigan are suing Bayer for misrepresenting their $63 billion acquisition of Monsanto in 2018.
Many financial experts expected for Bayer’s stock to skyrocket after buying the agricultural giant in the summer of 2018. However, the stock market price over the past two years have plummeted from $27 per share to today’s price of $17.57. The reason is that Bayer was predicting that the courts would side in favor with Monsanto in regards to the RoundUp lawsuits. Bayer made an incorrect calculation, which means that they have to shell out over $10 billion due to RoundUp giving thousands of the consumers cancer.
Now, the pension funds are in litigation with Bayer because they based their investments of the money of the elderly upon the misinformation given by Bayer and Monsanto.