BUZZ-Bayer drops as BofA says glyphosate Missouri class moved to California court

Bank of America Corp

Bank of America Corp

BAC

0.00

Adds BofA note, request for comments to Bayer

** Shares in German pharmaceutical firm Bayer BAYGn.DE are down around 5%, at their lowest level in over six months

** BofA Global Research says the glyphosate Missouri class has been transferred to the California Federal court under Judge Chhabria

** "Chabria has been negative this class... and rejected 2020 class settlement," BofA notes

** Bayer said in a statement it will oppose the transfer

** Co proposed in February a $7.25 billion legal settlement to address tens of thousands of lawsuits in the U.S. claiming its glyphosate weedkiller Roundup causes cancer

** A local trader points to market nervousness ahead of the June 4 deadline for plaintiffs to accept the class-action settlement regarding the glyphosate dispute

** The stock is at bottom of German blue-chip index DAX .GDAXI

** Stock down 9.8% YTD


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