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Its with a very heavy heart I sold half my GSK shares today as they were inherited from my Parents. I will sit on the side lines with my war chest and if we win get back in asap. If we loose at least the sum bag Lawyers and ambulance chasers wont wipe me out completely , cant win what ever I do and really bloody annoyed having to go so defensive but don't think the sp will rise much until after the next round of appeals and my parents will turn in their grave ifi loose my inheritence..
"The first rule of an investment is don't lose [money]. And the second rule of an investment is donβt forget the first rule. And that's all the rules there are." Warren Buffett.
Yes - Noone can reasonably predict what will happen, but it doesn't look great. The sidelines are the best place until more information co IMO.
From the BAYER case ;
There are 3 stages;
(1) The scientific evidence is determined as weak and essentially unprovable, but there is some tiny thread of a possible harm or expert witnesses who claim harm.
(2) The court makes a decision that because the scientific evidence is debatable, each case is determed on it's merits resulting in numeroius jury cases.
(3) Sobbing jury cases start awarding billions in damages with a backlog of thousands of cases. The company overturns the billions to 1 or 2 individuals to hundreds of millions on appeal, but the damage is done and a precident has been set for many more claims.
We are still at stage 1. But unless the Federal Court squashes the Delaware court appeal ruling that each case should be heard on it's merits, this business could be open for a BAYER style scenario with numerious sobbing jury courts.
Timeline of Bayer Litigation Liability with BAYN.DE Share Price
2001-2015: Early Legal Issues
2001: Bayer acquired Aventis CropScience, making it a major player in the agricultural sector.
Share Price (approx): Not readily available from 2001.
2013: Bayer's contraceptive pill Yasmin faced numerous lawsuits over alleged side effects, including blood clots. Bayer settled thousands of lawsuits for billions of dollars.
Share Price (December 2013): Approximately β¬89.60β (Wikipedia)β.
2015-2018: Monsanto Acquisition and Glyphosate Litigation
2016: Bayer announced its intention to acquire Monsanto, a leading agrochemical and agricultural biotechnology corporation, for $66 billion.
Share Price (June 2016): Approximately β¬95.06β (Wikipedia)β.
June 2018: Bayer completed the acquisition of Monsanto. This marked the beginning of significant legal challenges related to Monsanto's glyphosate-based herbicide, Roundup.
Share Price (June 2018): Approximately β¬88.76β (Wikipedia)β.
2018-2020: Glyphosate Lawsuits and Verdicts
August 2018: A California jury awarded $289 million to Dewayne Johnson, a groundskeeper who claimed Roundup caused his cancer. The award was later reduced to $78 million.
Share Price (August 2018): Approximately β¬74.12β (Wikipedia)β.
March 2019: A federal jury in San Francisco awarded $80 million to Edwin Hardeman, another cancer patient who used Roundup. The award was later reduced to $25 million.
Share Price (March 2019): Approximately β¬61.29β (Wikipedia)β.
May 2019: A jury in Oakland, California awarded over $2 billion to a couple claiming Roundup caused their cancer. The award was later reduced to $86.7 million.
Share Price (May 2019): Approximately β¬54.14β (Wikipedia)β.
2020: Settlements and Ongoing Litigation
June 2020: Bayer announced it would pay up to $10.9 billion to settle thousands of existing Roundup lawsuits. This settlement covered approximately 75% of the claims.
Share Price (June 2020): Approximately β¬70.15β (Wikipedia)β.
August 2020: Bayer agreed to an additional $1.25 billion for future claims related to Roundup.
Share Price (August 2020): Approximately β¬57.64β (Wikipedia)β.
2021-2022: Legal Setbacks and Adjustments
May 2021: A federal judge rejected Bayer's proposed settlement plan for future Roundup claims, stating it was inadequate for addressing potential future cases.
Share Price (May 2021): Approximately β¬51.45β (Wikipedia)β.
July 2021: Bayer announced it would set aside an additional $4.5 billion to deal with potential future Roundup litigation.
Share Price (July 2021): Approximately β¬46.80β (Wikipedia)β.
August 2021: The company lost another significant case in California, where a jury awarded $86.2 million to a couple alleging Roundup caused their cancer.
Share Price (August 2021): Approximately β¬45.18β (Wikipedia)β.
2022-2023: Ongoing Litigation and Financial Implications
September 2022: Bayer con
2022-2023: Ongoing Litigation and Financial Implications
September 2022: Bayer continued to face thousands of lawsuits related to Roundup, impacting its financial performance and stock price.
Share Price (September 2022): Approximately β¬49.85β (Wikipedia)β.
2023: Bayer continued to negotiate settlements and address ongoing litigation. The company faced challenges in resolving future claims and managing the financial burden of existing settlements.
Share Price (June 2023): Approximately β¬53.11β (Wikipedia)β.
2024: Current Status
June 2024: Bayer is still dealing with legal challenges related to Roundup and other products. The total liability and impact on the company's finances remain significant, with ongoing settlements and court cases shaping the future of the litigation landscape.
Share Price (June 2024): Approximately β¬27.45β (Wikipedia)β.