DuPont To Settle Multi-District PFOA Litigation; To Pay Half Of $670.7 Mln

(RTTNews) - Chemical giant EI DuPont De Nemours & Co. (DD) or DuPont Monday announced that it reached global settlement of multi-district perfluorooctanoic acid and its salts or PFOA litigation.

The company and plaintiffs' attorneys in the multi-district litigation or MDL have jointly agreed to a settlement in principle of the MDL involving about 3,550 lawsuits related to PFOA personal injury claims arising from environmental releases of PFOA from the Washington Works plant in West Virginia.

The total settlement amount is $670.7 million in cash, half of which will be paid by Chemours and half paid by DuPont. Both companies denied any wrongdoing.

The company noted that this settlement encompasses all claims pending in the MDL, including those matters for which jury verdicts have been rendered. DuPont discontinued PFOA operations at that plant more than a decade ago. The settlement agreement is subject to receipt of releases or dismissals, as applicable, from individual plaintiffs, among other conditions.