Chemours, DuPont, Corteva Provide Update; Affirm Support for PFAS Settlement with U.S. Water Systems
25 December 2023, Wilmington: The Chemours Company (NYSE: CC), DuPont de Nemours, Inc. (NYSE: DD) and Corteva, Inc. (NYSE: CTVA) (the “Companies”) today announced their continued support for the June 30, 2023, agreement to comprehensively resolve PFAS1-related drinking water claims of a defined class2 of public water systems.
On December 20th, the notice administrator in the South Carolina aqueous film-forming foam multi-district litigation (“AFFF MDL”) requested an extension until January 3, 2024, to file with the United States District Court for the District of South Carolina the list of public water systems that have opted out of the settlement class.
Under the terms of the agreement, the Companies have until today to exercise their walk-away rights based on the number of opt outs from the class. The Companies have sufficient insight into this process to determine that they remain in favor of the settlement and do not intend to exercise that right.
The court on December 7, 2023, issued an order allowing water systems that elected to opt out of the settlement to rejoin the settlement class until as late as March 1, 2024. On December 14, 2023, the court held a fairness hearing on final approval of the settlement; the Companies await the court’s final order and support final approval.
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