Bayer extends decline after losing another weedkiller case

• Bayer (OTCPK:BAYRY -2.4%) shares sink to their lowest since 2011 after the company lost a ruling at France's top court in a case filed by a farmer who was exposed to a now-banned herbicide.
• The Cour de Cassation says the company is responsible for injuries the farmer suffered after breathing fumes from Monsanto's Lasso weedkiller, backing a lower court ruling that said Monsanto failed to properly list possible risks associated with the chemical.
• But the cases are unlikely to spread due to differences between U.S. and French legal systems, Berenberg analyst Sebastian Bray tells Bloomberg.
• Bayer recently reduced guidance for FY 2021 sales to finish flat after previously seeing ~4% sales growth, and it expects core earnings to come in below this year's level at constant exchange rates.
• https://seekingalpha.com/news/3624257-bayer-extends-decline-after-losing-another-weedkiller-case