DuPont and Chemours Co have agreed to pay $671 million in cash to settle thousands of lawsuits involving a leak of a toxic chemical used to make Teflon, the companies said on Monday.
Shares of Chemours jumped 13 percent. The company said it would pay half of the settlement, although liability for litigation connected with the chemical was passed onto it when DuPont spun it off in 2015.
In addition, Jefferies analyst Alexander Laurence said the liability was $300 million below Wall Street estimates, and DuPont shares rose 1 percent.
DuPont settles lawsuits over leak of chemical used to make Teflon
For years, the Environmental Protection Agency has assigned a dollar value to the lives saved and...
6.5 magnitude earthquake shook the Mexican state of Guerrero in the southern part of the country...
The Trump administration sued two California cities on Monday, seeking to block local laws that restrict...
Mudslides buried cars and homes up to their windows in a California mountain town as a...
