LONDON, June 25 (Reuters) – Shares in Germany’s Bayer surged by the most in 23 years on Thursday after the U.S. Supreme Court sided with the the company concerning lawsuits related its Roundup weedkiller.
The Supreme Court reined in thousands of lawsuits pursued in the state courts that had accused Bayer of failing to warn users that the active ingredient in Roundup causes cancer, handing a major legal victory to the company.
At 1419 GMT, shares were up 17.3%, heading for their biggest daily jump since 2003.
(Reporting by Samuel Indyk; Editing by Amanda Cooper)
Comments