The Chemours Co. CC, DuPont de Nemours Inc. DD and Corteva Inc. CTVA announced Friday an “agreement in principle” to settle all drinking water claims related to perfluoroalkyl and polyfluoroalkyl substances, known as PFAS. “The companies deny the allegations in the underlying litigation and reserve all legal and factual defenses against such claims if they were litigated to conclusion,” the companies said in a statement. As part of the agreement, the companies will establish a settlement fund and contribute a total of $1.185 billion to the fund, with Chemours contributing about $592 million, DuPont adding about $400 million and Corteva contribution about $193 million. The agreement is expected to be finalized during the second quarter of 2023. Chemours stock was still inactive in premarket trading, while DuPont shares were indicated to be down 0.1% and Corteva’s stock traded up 0.3%. Futures ES00 for the S&P 500 SPX were up 0.5% ahead of the open.
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