Bayer shares down after Monsanto ordered to pay damages

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(Reuters) – Shares in Bayer (BAYGn.DE) plunged almost 10 percent to their lowest in almost two years after a California jury ordered the German company’s subsidiary Monsanto to pay $289 million in damages last week.

FILE PHOTO: The corporate logo of Bayer is seen at the headquarters building in Caracas, Venezuela March 1, 2016. REUTERS/Marco Bello/File Photo

A jury found Monsanto liable in a lawsuit alleging that the company’s Roundup weedkiller caused cancer. The case is the first of more than 5,000 similar lawsuits across the United States.

Reporting by Ludwig Burger; Editing by David Goodman

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