Chemours (NYSE:CC), DuPont (NYSE:DD) and Corteva (NYSE:CTVA) said Friday they have reached an agreement in principle to settle all PFAS-related drinking water claims of certain public water systems that serve “a vast majority” of the U.S. population.
While denying the allegations in the underlying litigation, the companies said they will collectively establish and contribute a combined $1.185B to a settlement fund, with Chemours (CC) contributing 50%, or ~$592M, and DuPont (DD) and Corteva (CTVA) contributing the remaining 50%, or ~$400M and ~$193M, respectively.
The settlement amounts will be funded by the companies in full and deposited into the water district settlement fund following preliminary approval of the U.S. District Court for the District of South Carolina.
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