Case Page

 

Case Status:    DISMISSED    
On or around 08/01/2012 (Date of order of final judgment)

Filing Date: July 29, 2010

According to a press release dated July 29, 2010, the complaint charges Monsanto and certain of its officers and executives with violations of the Exchange Act. Monsanto is a provider of agricultural products for farmers including seeds, biotechnology trait products, and herbicides, most notably Roundup®.

Specifically, the complaint alleges that, throughout the Class Period, defendants failed to disclose material adverse facts about the Company’s true financial condition, business and prospects. Specifically, the complaint alleges that defendants failed to disclose: (i) that demand for the Company’s herbicide products was substantially declining as competition from Chinese producers of generic
glyphosate products was causing a collapse in the prices of glyphosate
products; (ii) that the Company would be unable to maintain herbicide prices
as defendants knew that they had to cut prices significantly to be able to
compete with the avalanche of generic herbicide products that were entering
the market; and (iii) that, as a result of the foregoing, defendants’ positive
statements about the Company, its earnings, prospects and financial condition
were lacking in a reasonable basis and materially misleading.

On May 27, 2010, the Company announced that it was “dramatically”
repositioning its Roundup® business, lowering its full-year 2010 guidance to
$2.40 to $2.60 a share from $3.10 to $3.30 a share, and lowering its free cash
flow guidance. The Company also announced that its guidance for Roundup® and
other glyphosate-based products was now $50 to $200 million, down from $600
million on April 7, 2010. On this news, the Company’s stock price fell from a
price of $52.66 prior to the announcement to close at $50.27 on extremely
heavy volume.

On November 1, 2010, the motion to appoint the Arkansas Teacher Retirement System as lead plaintiff and Kaplan Fox & Kilsheimer LLP as lead counsel was approved. All other pending motions were denied by the Honorable Catherine D. Perry. On January 31, 2011, the plaintiff filed an Amended Complaint. The defendants responded by filing a motion to dismiss on April 1, 2011.

On August 1, 2012, the Court issued an order granting the defendants' motion to dismiss, and dismissing the plaintiff's second amended complaint with prejudice.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Chemical Manufacturing
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MON
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. Missouri
DOCKET #: 10-CV-01380
JUDGE: Hon. Donald J. Stohr
DATE FILED: 07/29/2010
CLASS PERIOD START: 01/07/2009
CLASS PERIOD END: 05/27/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (Boca Raton)
    120 East Palmetto Park Road, Suite 500, Robbins Geller Rudman & Dowd LLP (Boca Raton), FL 33432
    561.750.3000 561.750.3364 ·
  2. Robbins Geller Rudman & Dowd LLP (Manhattan)
    52 Duane Street, 7th Floor, Robbins Geller Rudman & Dowd LLP (Manhattan), NY 10007
    212.693.1058 212.693.7423 ·
  3. Shamberg Johnson & Bergman
    2600 Grand Boulevard, Shamberg Johnson & Bergman, MO 64108-4627
    816.474.0004 816.474.0004 ·
No Document Title Filing Date
COURT: E.D. Missouri
DOCKET #: 10-CV-01380
JUDGE: Hon. Donald J. Stohr
DATE FILED: 01/31/2011
CLASS PERIOD START: 01/07/2009
CLASS PERIOD END: 05/27/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kaplan Fox & Kilsheimer, LLP (New York)
    850 Third Avenue, 14th Floor, Kaplan Fox & Kilsheimer, LLP (New York), NY 10022
    212.687.1980 212.687.1980 ·
  2. Kaplan Fox & Kilsheimer, LLP (San Francisco, CA)
    100 Pine Street, 26th Floor, Kaplan Fox & Kilsheimer, LLP (San Francisco, CA), CA 94111
    415.772.4700 415.677.1233 · info@kaplanfox.com
No Document Title Filing Date