The Chemours Company (CC) News & EventsCCThe Chemours Company

DuPont Settles for $455 Million with North Carolina

DuPont (DD) announced that, together with Chemours (CC) and Corteva (CTVA) and its subsidiary EIDP, it has entered into a settlement with the State of North Carolina and 11 local entities in the vicinity of the company's Fayetteville Works facility that were excluded from the U.S. Public Water System Class Settlement approved in 2024. The settlement resolves litigations brought by the State and the settling local entities relating to PFAS and other historical discharges from Fayetteville Works, as well as the State's claims of PFAS contamination unrelated to that site, including from the use of AFFF. Settlement payments will total $455M over a 15-year period beginning within 30 days of the execution date of the Settlement Agreement. Of the total settlement amount, $18M is attributed to alleged PFAS contamination unrelated to Fayetteville Works, of which no more than $14.4M, approximately 3%, can be ascribed to AFFF. The terms of the settlement are set forth in the Settlement Agreement, which remains subject to entry of dismissals of the covered litigations.

Chemours Reaches $455M Settlement with North Carolina

Chemours (CC) announced that, along with DuPont (DD) and Corteva (CTVA), it has entered into a settlement with the State of North Carolina and 11 local entities in the vicinity of the company's Fayetteville Works facility that were excluded from the U.S. Public Water System Class Settlement approved in 2024. The settlement resolves litigations brought by the State and the settling local entities relating to PFAS and other historical discharges from Fayetteville Works, as well as the State's claims of PFAS contamination unrelated to that site, including from the use of AFFF. Since 2019, Chemours has made substantial investments to significantly reduce PFAS emissions from Fayetteville Works and mitigate off-site impacts in the surrounding communities. The agreement recognizes that several Consent Order provisions have been completed and establishes procedures to address certain remaining obligations relating to off-site areas, including implementation of drinking water programs. Settlement payments will total $455M over a 15-year period beginning within 30 days of the execution date of the agreement. Chemours' share of expected payments over the next twelve months is approximately $50M. Of the total settlement amount, $18M is attributed to alleged PFAS contamination unrelated to Fayetteville Works. The terms of the settlement, including a further description of claims released and not released, are set forth in the settlement agreement, which remains subject to entry of dismissals of the covered litigations. Consistent with the January 2021 MOU between the company, DuPont, and Corteva, Chemours will be responsible for 50% of settlement payments, and DuPont and Corteva will be responsible for the remaining 50%. In addition, Chemours, DuPont, and Corteva have mutually worked together to reach certain understandings concerning the MOU, including the valuation of the settlement and potential future multi-year settlements on a net present value basis for purposes of calculating qualified spend, as they continue to work together to address legacy PFAS-related litigation matters. Pursuant to these understandings, for purposes of calculating the amount of qualified spend, the settlement amount will account for approximately $210M. In addition, all future contributions to the MOU escrow account will be considered satisfied, including Chemours' $50M escrow contribution that would have been due in September.

Digital Turbine Shares Rise 24.3% After Earnings

Stock futures were mixed following this week's already sharp gains after another slate of big earnings reports. While SpaceX slipped after its first report as a public company, gains from Booking, Arista, and others weighed on futures. Crude oil futures were also lower amid optimism over a potential U.S.-Iran deal to reopen the Strait of Hormuz.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Digital Turbineup 24.3%Travere Therapeuticsup 12.4%Arista Networksup 9.2%Ultragenyxup 6.4%Bookingup 5.7%Wynn Resortsup 5.5%Paylocityup 3.4%ALSO HIGHER -Sight Sciencesup 9.6% after receiving FDA 510clearance of the Omni Ultra Surgical SystemDOWN AFTER EARNINGS -Teradatadown 18.4%ViaSatdown 9.5%Chemoursdown 9.4%Match Groupdown 9.1%Pinterestdown 9.1%AMDdown 8.7%Lucid Groupdown 7.8%DaVitadown 7.3%SpaceXdown 7.2%Lattice Semiconductordown 6.5%Coupangdown 6.1%