Bayer Stock Nosedives After Jury Finds Monsanto Guilty of Covering Up Cancer Risks
For those who’ve for years been fighting Monsanto, affectionately known as the world’s most evil corporation, a San Francisco jury’s decision last Friday to fine the company $289 million is earth-shattering news. Apparently financial markets and analysts agree.
In the case of Dwayne Johnson vs. Monsanto, the plaintiff was awarded an enormous amount of money after contracting non-Hodgkin lymphoma (NHL). The jury decided that Johnson’s cancer was most likely the result of exposure to Monsanto’s Roundup and Ranger herbicide products, which Johnson routinely applied as a school groundskeeper.
In addition to the charge that Monsanto’s products were the source of Johnson’s NHL, the jury also found the agrochemical and seed giant guilty of covering up the potential harm of these products and of failing to adequately warn consumers of the known and suspected risks. In other words, Monsanto has been lying about the safety of their most popular products.
Now, it remains to be seen just how this will affect the company’s operations. In June of this year, the pharmaceutical giant Bayer finalized its acquisition of Monsanto, much to the dismay of many who’d like to see both of these companies held responsible for harmful business practices that amount to poisoning people and the earth for profit.
The Johnson verdict comes at a rather inopportune time for Bayer who is already having to work to convince consumers that the merger is good business. Over the weekend, the financial markets responded to the historical fine, and Bayer’s stock price dropped a whopping 10%, and it remains to be seen just how this will continue to evolve during this week’s trading period.
“Bayer shares were down 11.2 percent at 82.93 euros at 1320 GMT, the worst performing stock on the Stoxx Europe 600 index , and on track to close at their lowest in almost five years.
Barclays analysts said Bayer was in for a “litigious headache”.” [Source]
Could it be that large retailers of agricultural and gardening products, such as Home Depot and Lowe’s, will spearhead the effort to remove these products from its shelves in order to better serve their customer bases? The Johnson case certainly sets the precedent for such a dramatic turn against Monsanto, and it sure would be a positive development in the struggle against the toxic legacy of Monsanto.
This, however, is of little benefit to Johnson, whom doctors say is expected to die from NHL within the coming months. And this is also little benefit to the school children and staff who work and learn at a property that is routinely doused with a now known carcinogen. Furthermore, this massive financial verdict does little for the millions, perhaps even billions of other people around the world who are at risk from exposure to Monsanto’s most dangerous products.
Glyphosate, the primary, active and carcinogenic ingredient in Roundup and Ranger has been under fire for years over concern of the negative health effects of exposure to it.
Read more articles by Alex Pietrowski.
About the Author
Alex Pietrowski is an artist and writer concerned with preserving good health and the basic freedom to enjoy a healthy lifestyle. He is a staff writer for WakingTimes.com. Alex is an avid student of Yoga and life.
This article (Bayer Stock Nosedives After Jury Finds Monsanto Guilty of Covering Up Cancer Risks) originally created and published by Waking Times and is published here under a Creative Commons license with attribution to Alex Pietrowski and WakingTimes.com.