Summary
EIDP, Inc. (CTA-PB) has filed an 8-K report on July 8, 2016, primarily to disclose the outcome of a personal injury trial related to PFOA exposure. A jury awarded compensatory damages of $5.1 million and punitive damages of $0.5 million, plus attorneys' fees, to a plaintiff, Mr. Freeman, who alleged PFOA exposure in drinking water caused his testicular cancer. E. I. du Pont de Nemours and Company (the "Company") stated its intention to appeal this verdict. This case was one of six bellwether trials selected from a larger multi-district litigation (MDL) concerning PFOA-related personal injury claims. While the Company is indemnified by Chemours for these matters, the ongoing litigation, including an appeal of a prior $1.6 million award in another bellwether case, represents a significant legal and financial development. The report also provides a breakdown of the approximately 3,500 lawsuits within the MDL, indicating that the majority of claims involve allegations of high cholesterol and thyroid disease, with a smaller percentage alleging cancer.
Key Highlights
- 1Jury awarded $5.1 million in compensatory damages and $0.5 million in punitive damages plus attorneys' fees to a plaintiff in a PFOA personal injury trial.
- 2The plaintiff alleged testicular cancer caused by PFOA exposure in drinking water.
- 3E. I. du Pont de Nemours and Company (the "Company") intends to appeal the jury's decision.
- 4This case was the second of six bellwether trials in a multi-district litigation (MDL) concerning PFOA.
- 5Another bellwether case resulted in a $1.6 million compensatory damages award, which the Company is also appealing.
- 6Three other cases within the MDL have been settled for immaterial amounts.
- 7The Company is indemnified by Chemours for these PFOA matters.