Johnson Controls Unit to Pay $750M to Settle ‘Forever Chemicals’ Lawsuit
The settlement does not constitute an admission of liability or wrongdoing by Tyco Fire Products, Johnson Controls disclosed in a regulatory filing, adding that a charge for the amount was recorded in the second quarter ended March 31.
In 2023, lawsuits associated with “forever chemicals” or PFAS, which do not easily break down in the human body or environment, led to over $11 billion in settlements.
Earlier this month, 3M received a court approval for its $10.3 billion settlement with a host of U.S. public water systems to resolve water pollution claims tied to “forever chemicals.”
On Thursday, the U.S. Environmental Protection Agency finalized the first federal regulations on toxic “forever chemicals” in drinking water, setting tight limits on the amount of PFAS present in public water.
Tyco expects to pay $250 million in settlement by May, and the remaining $500 million after six months of the preliminary court approval of the settlement.
The preliminary approval is expected around mid-May from the United States District Court for the District of South Carolina, a multi-district legislation court.
(Reporting by Jain in Bengaluru; Editing by Shinjini Ganguli)
- Beyond the Claim: How Social Canvassing is Transforming Insurance Fraud Detection
- EPA Designates PFAS Chemicals as Superfund Hazardous Substances
- Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination
- Chubb CEO Greenberg: Some Financial Lines Underwriting Practices ‘Simply Dumb’
- California Chiropractor Sentenced to 54 Years for $150M Workers’ Comp Scheme
- Mother of 8-Year-Old ‘Violently Sucked’ into Houston Hotel Pool Files Wrongful Death Suit
- Property Restoration Industry: A Culture in Need of Repair?
- Millions of Recalled Hyundai and Kia Vehicles, With Dangerous Defect, Remain on Road