Chemours (CC) Stock Surges on Light Punitive Damages in DuPont Case

Chemours (CC) stock is rising today after a jury assigned just $500,000 in punitive damages to DuPont in a chemical dumping case.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Chemours (CC) - Get Reportstock is up 17.99% to $7.74 on heavy trading volume this afternoon after an Ohio jury assigned $500,000 in punitive damages to DuPont (DD) in a chemical dumping lawsuit.

Chemours, a spin-off company of DuPont, agreed to bear the cost of the lawsuit.

Lawyers met on Thursday to discuss the possibility of $1.2 billion in punitive damages, and the actual ruling far undercut those expectations.

A jury ruled on Wednesday that DuPont would pay $5.1 million to a West Virginian man who developed testicular cancer from drinking water contaminated with a toxic Teflon chemical, C-8, that leaked from a DuPont plant into the Ohio River.

With the punitive damages assigned today, DuPont spin-off Chemours will pay $5.6 million in the case.

DuPont will face 3,400 more lawsuits from the chemical leak in its West Virginian plant. This is the third case the company lost.

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