In August of 2018 stock prices for Bayer, the company that now owns Monsanto, took a nosedive after a California judge awarded defendant DeWayne Johnson $289 million in damages.
From 2012 to 2015 Johnson was a school groundskeeper for the Benicia unified school district in California where he regularly applied Monsanto’s herbicide Roundup (glyphosate) to the property. In 2014 he was diagnosed with non-Hodgkin lymphoma (NHL), and claimed that Monsanto knowingly hid the carcinogenic effects of the product from consumers. The defendant’s law firm noted Monsanto’s actions had amounted fraud and malice.
PC emailed me at 6:20 PM Friday, August 10th, the verdict rendered by the jury in the 8-week trial whereby “the jury found unanimously that Monsanto’s glyphosate-based Roundup weed killer caused Mr. Johnson to develop NHL, and that Monsanto failed to warn of this severe health hazard. Importantly, the jury also found that Monsanto acted with malice, oppression or fraud and should be punished for its conduct.” [Source]
After the verdict, analysts estimated that Bayer was facing a potential $800 billion in settlements for thousands of other similar cases pending against Monsanto. Since then, Bayer’s stock has continued to fall significantly.
In October another California court cut the $289 million penalty to $78 million, but a precedent had already been set, and now lawyers around the country are gearing up for massive class action lawsuits against Bayer.
A google search for ‘lawsuits against Monsanto, or something similar yields rather interesting results, with the top returns being advertisements from law firms or organizations set up to capitalize on the coming tidal wave of profits to be made from suing Bayer.
In this one, the top five results are ads generating leads for law firms, pointing out just how competitive this emerging opportunity is becoming.
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