DuPont to settle PFOA lawsuits for $670 million

Bloomberg News  Landov

Bloomberg News Landov

DuPont and its spinoff, Chemours, will pay $670.7 million to settle the roughly 3,500 lawsuits alleging the dumping of chemicals caused cancer in nearby communities.

Wilmington, Delaware-based chemical company DuPont announced Monday that it has agreed to a $670.7 million settlement of a long-running PFOA lawsuit in the Mid-Ohio Valley.

The settlement comes at a pivotal moment for DuPont, which is about to merge with Dow Chemical and subsequently split into three distinct companies. Last month, the jury awarded the man another $10.5 million in punitive damages.

The settlement still faces hurdles.

About 3,550 lawsuits have been filed in federal and state courts in OH and West Virginia alleging injury from exposure to perfluorooctanoic acid in drinking water.

DuPont said the agreement is a "global settlement" covering all cases in the multi-district litigation, including those that have gone to jury trial.

DuPont has already paid or committed to pay more than $350 million for impacted community water filtration systems, class member blood and health data collection, class member health studies and class member medical monitoring.

Forty more trials had been set to start in May.

Keep Your Promises DuPont advisor Harold Bock said DuPont's settlement is an enormous step in the right direction and that the group is "cautiously optimistic" about the settlement. DuPont will cover future liabilities up to an additional $25 million per year.

"This agreement provides a sound resolution for area residents, Chemours, and the public", said David Shelton, senior vice president and general counsel for Chemours. "For DuPont and Chemours, who have shamelessly dragged this crisis out for decades, it is time to make good on this settlement offer without any further delay".

In addition, DuPont and Chemours have agreed to address any potential PFOA liabilities that might arise in the future.

DuPont officials say the settlement of the multi-district litigation in OH includes all claims pending, including those for which jury verdicts have already been issued.

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