WILMINGTON, Del., Feb. 13, 2017 /PRNewswire/ -- DuPont and
plaintiffs' attorneys in the Ohio multi-district litigation (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 (perfluorooctanoic acid and its salts) 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.
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.
To address potential PFOA liabilities that might arise in the future, Chemours and DuPont have agreed that, for a period of
five years, Chemours would annually pay PFOA liabilities outside the settlement up to $25 million
and, that if such amount is exceeded, DuPont would pay any excess liabilities up to the next $25 million, with Chemours
annually paying any further excess liabilities. After the five-year period, Chemours indemnification obligations under the
Separation Agreement continue unchanged and DuPont has no commitment to fund PFOA costs. Chemours has also agreed, that upon the
settlement becoming effective, it will not contest its liability to DuPont under the separation agreement for PFOA costs on the
basis of ostensible defenses Chemours believes are generally applicable to the indemnification provisions under the Separation
Agreement, including that such costs relate to punitive damages, fines or penalties or attorneys' fees for the same, but has
retained defenses as to whether any particular PFOA claim is within the scope of the indemnification
provisions of the Separation Agreement.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative
products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and
thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere,
decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its
commitment to inclusive innovation, please visit http://www.dupont.com.
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SOURCE DuPont