3M, DuPont Stocks Are Soaring on PFAS Settlement. A Big Overhang Is Gone.

By Al Root | Barron's | June 2, 2023

Read the full article by Al Root (Barron's)

"Shares of 3M and the DuPont family of companies are up, a lot, in Friday trading. There has been positive movement on litigation related to so-called PFAS chemicals that have been found in ground water.

On Friday, DuPont (ticker: DD), Chemours (CC), and Corteva (CTVA) announced a settlement with water providers across much of the U.S. The three will contribute about $1.2 billion to a settlement fund. That money can be used to monitor and clean up PFAS. (The three companies are involved because they were once part of a larger DuPont.)

PFAS litigation has been an overhang for years. The settlement is an important market for investors looking to size the total liability."