West Virginia State University today sued Dow Chemical (DOW) for allegedly contaminating the groundwater beneath the university's campus, the Charleston Gazette-Mail reports.
University officials said the contamination does not currently pose a health risk to anyone on campus, however, that the firm should pay for the cleanup and limit future use of the property.
"Dow must restore our campus to the condition it was in before this contamination and help us address the harm this will do to our image locally and nationally," West Virginia State University President Anthony Jenkins said.
Shares of Dow Chemical closed lower over 1.5% on Thursday on heavy trading volume of about 6.5 million shares vs. the monthly average of 5.9 million.
(What will move markets this quarter and how should investors position themselves ahead of time? Jim Cramer sat down with four of TheStreet's top columnists recently to get their views. Click here to listen to his latest Trading Strategies roundtable with them and read their advice for stocks, bonds, forex and gold.)