"Judge Dismisses Chemours Lawsuit Against DuPont", 30 March 2020

A Delaware judge has granted the DuPont Co.'s request to dismiss a lawsuit alleging that it massively downplayed the cost of environmental liabilities imposed on spinoff company Chemours.

Vice Chancellor Sam Glasscock III ruled Monday that he has no jurisdiction to hear the case because the separation agreement between the companies clearly states that all disputes arising from the spinoff are subject to binding arbitration.

DuPont issued a statement saying it was pleased with the ruling and would take steps to enforce its rights under the separation agreement.

A Chemours spokesman said the company will appeal the ruling to the Delaware Supreme Court...

...Chemours sued DuPont last year, alleging DuPont deliberately lowballed the cost of environmental liabilities Chemours would face in reimbursing DuPont for pollution related to man-made chemicals known as per- and polyfluoroalkyl substances, or PFAS...

...Chemours claims that DuPont had "a keen incentive" to downplay environmental liabilities while extracting a multibillion-dollar dividend from Chemours that would help fund a stock buyback...

...Meanwhile, Chemours, DuPont and other chemical companies are facing new lawsuits over water contamination related to PFAS chemicals.