Bayer shares down 7% after U.S. court says it will review Monsanto case [CNBC]
BAYER AG S/ADR (BAYRY)
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Source: CNBC
The Washington Supreme Court this week accepted a review of a litigation against the German company over alleged polychlorinated biphenyls (PCBs) exposure at the Sky Valley Education Center. Shares of German life sciences company Bayer fell nearly 7% on Wednesday, after a U.S. court said it would review a case alleging that exposure to products of the company's Monsanto unit harmed individuals. The Washington Supreme Court this week accepted a review of litigation against the German company over the impact of polychlorinated biphenyls (PCBs) exposure at the Sky Valley Education Center in Washington state, one of many related cases Bayer is fighting. Previously, an appeals court had overturned a $185 million award in the trial after finding flaws in the case in May, according to Reuters Bayer shares were 6.76% lower at 12:45 p.m. London time, putting the stock on course for its worst performance since March and extending a loss of 13% in the year to date. Shares had tumbled more
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