DuPont Settles 220 Fungicide Lawsuits
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DuPont Co. said Friday it will pay $214 million to settle close to half the 560 suits against it relating to a controversial fungicide that farmers say ruined crops and led to sexual dysfunction.
The settlement of 220 of the suits is the latest effort by the chemical giant to put behind it the long-simmering dispute over farmers’ claims against Benlate DF 50.
With Friday’s settlement, DuPont will have paid out about $714 million to farmers with Benlate complaints, and insurance deductibles and other charges bring its costs to nearly $1 billion, according to an analyst’s figures.
DuPont said the settlement is covered by previous charges to earnings, which total $476 million after taxes.
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