Summary
E. I. du Pont de Nemours and Company (DuPont) announced a settlement in a shareholder class action lawsuit stemming from a 1995 case related to its Benlate® fungicide. The company has agreed to a settlement amount of approximately $77 million. This settlement is expected to have a negative impact on DuPont's first-quarter earnings, reducing earnings per share by an estimated $0.05.
Key Highlights
- 1DuPont has reached a settlement in a 1995 shareholder class action lawsuit concerning the Benlate® fungicide.
- 2The total settlement amount is approximately $77 million.
- 3The settlement is anticipated to reduce first-quarter earnings by $0.05 per share.
- 4DuPont is actively seeking recovery from its insurance providers to offset the settlement cost.
- 5The company maintains it acted appropriately and settled to resolve the dispute.
- 6DuPont ceased the manufacture and sale of Benlate® fungicide in 2001.
Frequently Asked Questions
This filing is to announce that DuPont has reached a settlement in a shareholder class action lawsuit related to its Benlate® fungicide, which was filed in 1995.
The settlement is expected to reduce DuPont's first-quarter earnings by approximately $0.05 per share. The total settlement cost is around $77 million.
DuPont has agreed to the settlement amount and is seeking recovery from its insurance. While they agreed to the settlement, they are pursuing insurance to offset the cost.
Yes, DuPont discontinued the manufacture and sale of its Benlate® fungicide in 2001.