Bayer Shares Slide as Legal Troubles Mount Over Herbicides
- California court won’t hear arguments on carcinogen listing
- Lawsuits over dicamba-linked crop losses also worry investors
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Bayer AG shares continued their slide after the company failed to block California’s move to list the herbicide Roundup as a known carcinogen.
The California Supreme Court declined on Wednesday to hear arguments by Monsanto, recently acquired by Bayer, as to why Roundup, the world’s most widely used weed killer, doesn’t belong on the state’s list of chemicals known to cause cancer. The California Court of Appeal, Fifth District, had rejected the U.S. company’s arguments in April.