Chemours Sues DuPont Over 'Lowball' Cleanup Tab

By Jeff Montgomery (June 28, 2019, 9:38 PM EDT) -- Chemours Co. has opened a potentially multibillion-dollar suit against DowDuPont Inc. and affiliates for "massively" understating environmental cleanup indemnification burdens as part of the Chemours spinoff in 2015, in a Delaware Chancery Court complaint unsealed late Friday.

The eight-count complaint — ordered to be made public after intense opposition from DuPont — alleges that Chemours would have been insolvent at the time of its spinoff had DuPont disclosed the full extent of the liabilities it was handing off as part of the deal. Instead, Chemours claims, DuPont wrote "systematically and spectacularly wrong" upper limits into the environmental baggage it was handing...

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