Chemours, DuPont and Corteva Settle North Carolina PFAS Claims for $455 Million

RegulationCorporate Action
โดย PR Newswire·US·Read original
Summary · why it matters

The Chemours Company, DuPont de Nemours and Corteva have entered into a settlement with the State of North Carolina and 11 local entities near Chemours' Fayetteville Works facility to resolve PFAS-related litigation. Overall settlement payments total $455 million over 15 years, beginning within 30 days of the agreement's execution, with $18 million of that amount attributed to alleged PFAS contamination unrelated to Fayetteville Works. Under the January 2021 Memorandum of Understanding, Chemours is responsible for 50% of settlement payments, a share of approximately $180 million on a net present value basis that is covered by existing accruals, while DuPont and Corteva carry the remaining 50%. For purposes of calculating qualified spend, the settlement amount will account for approximately $210 million, and all future contributions to the MOU escrow account are considered satisfied, including Chemours' $50 million escrow contribution that would have been due in September 2026. The agreement recognizes progress under the 2019 Consent Order, including substantial reductions in PFAS emissions from Fayetteville Works, and remains subject to entry of dismissals of the covered litigations.

Impact on stocks 3

Critical Materials & Supply Chain▲ · 1 stocks
Chemours Co
CC
▲ PositiveRegulationrelevance

Chemours resolves North Carolina PFAS litigation for a $455M settlement, with its ~$180M share covered by existing accruals and future MOU escrow obligations satisfied.

Synthetic Biology (non-pharma)▲ · 1 stocks
Corteva Inc
CTVA
▲ PositiveRegulationrelevance

Corteva shares the remaining 50% of the $455M North Carolina PFAS settlement, resolving covered litigation and satisfying future MOU escrow contributions.

Climate Adaptation & Water▲ · 1 stocks
Dupont De Nemours Inc
DD
▲ PositiveRegulationrelevance

DuPont shares the remaining 50% of the $455M North Carolina PFAS settlement, resolving covered litigation and satisfying future MOU escrow contributions.

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