Shares of top-German, pharmaceutical and chemical giant, Bayer AG (BAYN.DE) fell today the most since March, as Washington state court will review a case alleging potentially toxic chemicals from the Monsanto, Bayer unit (completed acquisition in 2018). In such case, three teachers claim that, Monsanto product caused brain injuries.
The court denied an application for a 'speedy' review of this case. According to Bloomberg Intelligence report, Bayer’s exposure to the Roundup litigation (another Monsanto's product) could exceed the Bayer's almosta $16 billion reserve by around 5%. German company has more than 57k unfinished cases related to Roundup; still claiming that Roundup is totally safe.
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As we can see below, Bayer shares failed to break above resistance of the EMA200 (red line) and now are falling back to levels unseen since half-September.
Source: xStation5
