The Chemours Company (NYSE:CC) shares traded higher Thursday after the company, DuPont, and Corteva reached a $455 million settlement resolving PFAS-related litigation in North Carolina.
The gain came despite broader weakness, with the S&P 500 down 0.43% and the Materials sector falling 1.24%.
Chemours’ Share Covered By Existing Accruals
Chemours, DuPont de Nemours, Inc. (NYSE:DD), and Corteva, Inc. (NYSE:CTVA) reached a $455 million settlement with North Carolina and 11 local entities over PFAS-related claims tied to Fayetteville Works and other alleged contamination, including AFFF.
Payments will be made over 15 years. Chemours will fund 50% under the companies’ 2021 MOU, with its share valued at approximately $180 million on a net present value basis and covered by existing accruals. About $50 million is expected over the next 12 months.
