Chemours, DuPont, Corteva settle New Jersey PFAS claims for $875 million
Lawsuits accusing major chemical companies of polluting U.S. drinking water with toxic PFAS chemicals led to over $11 billion in settlements in 2023, with experts predicting that new federal regulations and a growing awareness of the breadth of the contamination will spur more litigation and settlements.
PFAS are a class of chemicals that are used in a wide range of products including non-stick cookware and firefighting foams. They are commonly called "forever chemicals" as these substances do not break down easily in the human body or nature, and are associated with certain cancers, hormonal dysfunction and other diseases.
The payments announced on Monday, whose present value is about $500 million before taxes, will start no earlier than January 1, 2026.
Chemours will make half of the settlement payments, while DuPont will pay 35.5% and Corteva the rest, the companies said in a statement.
In 2023, the three firms reached a settlement agreement with the U.S. state of Ohio for $110 million to resolve claims associated with PFAS.
That same year, 3M (MMM.N), opens new tab agreed to pay $10.3 billion to settle hundreds of claims that the company polluted public drinking water with the chemicals, while Chemours, DuPont and Corteva reached a similar deal with U.S. water providers for $1.19 billion.
Of the total settlement announced on Monday, $16.5 million is attributed to alleged PFAS contamination unrelated to the companies' operating sites.
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