3M, Dupont sued by California AG over poisonous ‘ceaselessly chemical substances’ (NYSE:MMM)

California’s lawyer basic introduced a lawsuit Thursday towards 3M (NYSE:MMM), DuPont (NYSE:DD) and different producers of poisonous pollution generally known as “ceaselessly chemical substances” for “endangering public well being, inflicting irreparable hurt to the state’s pure sources, and fascinating in a widespread marketing campaign to deceive the general public.”

Lawyer Normal Rob Bonta stated the lawsuit adopted a multiyear investigation that discovered the businesses marketed merchandise containing polyfluoroalkyl and perfluoroalkyl substances for many years regardless of understanding they trigger most cancers, developmental defects and different well being issues.

Even after 3M (MMM) stopped manufacturing PFOS, “it labored to manage and deform the science on PFAS and to attenuate their risks to the surroundings and human well being,” in line with the AG’s workplace, including that regardless of 50 years of inside data of PFOA’s well being and environmental dangers, DuPont (DD) stated in 2003 it was “assured that there are not any well being results related to [PFOA] publicity” and that PFOA was “not a human well being problem.”

The lawsuit was filed in Alameda County, which incorporates Oakland, and is the primary statewide authorized motion over PFAS contamination.

DuPont (DD) simply delivered a Q3 earnings beat and unveiled a brand new $5B inventory buyback program that can drive additional EPS enchancment, Junius writes in an evaluation newly printed on Looking for Alpha.