The case centered around several communities in West Virginia and southern Ohio, where a toxic chemical once used to make Teflon had leached into … A class action lawsuit against 3M, DuPont, and Chemours was filed this week on behalf of everyone in the United States who has been exposed to PFAS chemicals. The 3,550 lawsuits were filed by plaintiffs who opted out of the 2005 settlement in a separate class action.In addition to the $670.7 million settlement costs, DuPont and Chemours could pay up to $25 million per year for the next five years or an additional $250 million to that ceiling, Chemours said in a statement.If all of the $250 million is paid out, plaintiffs will receive roughly $259,000 per claim, including attorneys' fees.Arnold said investors are reacting positively to the settlement because it resolves a lot of concerns Wall Street had about DuPont and Chemours. It also means plaintiffs will get their money much quicker and can avoid the agony and expense of a prolonged appeals process. (Reuters) - DuPont and Chemours Co have agreed to pay $671 million in cash to settle thousands of lawsuits involving a leak of a toxic chemical used to make Teflon, the companies said on Monday.In 2001, residents brought a class action against DuPont over C-8 exposure.
The settlement follows decades of Teflon production, followed by more decades of litigation.
Both companies denied any wrongdoing. However, the settlement may prevent the two companies from clashing in court. Instead it builds up over time in water, soil, and even in animals and humans.The lawsuits accused DuPont of contaminating the water supply of several communities near its former Washington Works plant in West Virginia with PFOA (also called C-8), a chemical once used to make Teflon.Chemours Company took control of the Teflon name when it was spun off into its independent form in 2015.As part of the settlement, Chemours said it would pay up to $25 million annually for the next 5 years to fund PFOA liabilities. When Chemours was spun out of DuPont, the companies agreed that DuPont must first pay any damages, but can pursue indemnification from Chemours.
Over 30,000 community members were involved. E. I. du Pont de Nemours and Company, commonly referred to as DuPont (/ dj uː ˈ p ɒ n t /), was an American company that was founded in July 1802 in Wilmington, Delaware, as a gunpowder mill by French-American chemist and industrialist Éleuthère Irénée du Pont..
"You have a cash payment going out the door, but that's a small negative," Arnold said. The contamination in this region eventually lead to a class action lawsuit that resulted in a broad medical study of affected residents beginning in 2005. "PFOA is an acronym for perfluorooctanoic acid and sometimes referred to as C-8.
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