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Bayer's filings with SEC reveal two subpoenas

Mar 8, 2006 | Pittsburgh Post-Gazette

Bayer AG disclosed in filings with the Securities and Exchange Commission that it received subpoenas in two separate cases.

The German-based drug and chemicals firm was subpoenaed by the Department of Justice last month in connection with alleged price-fixing of plastics products. Bayer said it was a defendant in multiple class-action lawsuits that have been consolidated in federal court in Kansas.

Separately, the company was subpoenaed by the U.S. attorney in New Jersey in connection with an earlier federal subpoena over its withdrawn cholesterol drug, Baycol.

Bayer said in the SEC filings that it had exhausted its insurance coverage and could be subject to further payments in 5,900 pending suits that involve Baycol.

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