As if Germany wasn't deindustrializing fast enough, the American judiciary is there with a little nudge off the ledge.
From the Washington Post, January 27:
A jury handed down a $2.25 billion verdict, including $2 billion in punitive damages, against agrochemical giant Monsanto, according to the lawyers of a man who said he developed cancer from using the company’s weed killer, Roundup.
John McKivison, 49, filed a lawsuit in Philadelphia against the company after he was diagnosed with non-Hodgkin’s lymphoma, which he said was due to using Roundup on his property for 20 years.
On Friday a jury returned a unanimous verdict, finding that Roundup was a cancer-causing product, that Monsanto was negligent and that Monsanto failed to warn about the dangers of Roundup, McKivison’s lawyers Tom Kline and Jason Itkin said in a joint statement.
“The jury’s punitive damages award sends a clear message that this multi-national corporation needs top to bottom change,” they said, calling the verdict “a condemnation of 50 years of misconduct by Monsanto.”
In an emailed statement, Bayer, Monsanto’s parent company, said it planned to appeal the verdict and what it called the “unconstitutionally excessive” damages. It said the jury’s verdict “conflicts with the overwhelming weight of scientific evidence and worldwide regulatory and scientific assessments” on Roundup....
....MUCH MORE
This is the largest jury award, to date, in the Roundup cases. But wait, there are a few other problems.
Bayer AG's Crash: Analysts React
Wounded Giant: Bayer Has Problems Beyond Monsanto Jury Awards
Here's one from 2021:
"Pension Funds Allowed to Sue Bayer Over Due Diligence in Monsanto Acquisition"
There have been some bad mergers and/or acquisitions over the years, AOL - Time Warner comes to mind both for its top-tick timing and the $54 billion write-down of some of the intangibles in the deal two years after consummation, but Bayer's purchase of Monsanto may be the worst in history.
