Jury Awards Over $2B in Damages Against Bayer in Glyphosate Case, but Lower Costs Likely on Appeal
A jury in Northern California decided Bayer's glyphosate product caused cancer in two more people and awarded close to $2 billion in damages, but we are not changing our moat rating or fair value based on the ruling. We expect Bayer will appeal this case, with a much more favorable outcome likely. As the majority of the damages were punitive (relative to compensatory), we also expect subsequent decisions to significantly lower the amount of damages. We continue to view the stock as undervalued, ...
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