DuPont Agrees To Settlement In Teflon Lawsuits

While denying any wrongdoing, DuPont and Chemours agree to pay $671 million to settle thousands of lawsuits related to the leak of a toxic chemical used to make Teflon, according to an article from Reuters. Shares for both companies reportedly increased in the wake of the announcement.

According to the article, Chemours agreed to pay half the settlement although liability for the lawsuit was passed onto it when DuPont spun off the business in 2015. More than 3,500 personal injury claims reportedly resulted from the leak of perfluorooctanoic acid from its Parkersburg, West Virginia plant that allegedly contaminated local water supplies

Read the entire Reuters article here.