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US states challenge Corteva spinoff as bid to evade PFAS liabilities

Attorneys General from 16 US states and Guam have sued Corteva and its new spinoff, Vylor, alleging the company illegally transferred billions in assets to shield them from PFAS liabilities. The lawsuit, filed in Marion County, Indiana, claims Corteva separated its seed and genetics business into Vylor to evade costs tied to former parent company DuPont. Indiana is seeking to freeze the asset transfer. The states assert that Corteva and Vylor owe tens of billions in costs related to these forever chemicals.

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⚡ Key Developments & Real-Time Context
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  • ✓ Sixteen US states and Guam filed a lawsuit against Corteva, Vylor, and EIDP.
  • ✓ The lawsuit alleges Corteva transferred billions of dollars in assets to Vylor to evade PFAS liabilities.
  • ✓ The legal action was filed in a Marion County, Indiana state court.
  • ✓ Vylor was added to the S&P 500 on October 1.
🛡️ Source Corroboration: 15 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

Sixteen states and Guam filed a lawsuit in Indiana to freeze asset transfers between Corteva and Vylor.

Live updates

  1. US States Sue Corteva Over Vylor Spinoff and PFAS Liabilities

    Attorneys General from 16 US states and Guam have sued Corteva and its new spinoff, Vylor, alleging the company illegally transferred billions in assets to shield them from PFAS liabilities. The lawsuit, filed in Marion County, Indiana, claims Corteva separated its seed and genetics business into Vylor to evade costs tied to former parent company DuPont. Indiana is seeking to freeze the asset transfer. The states assert that Corteva and Vylor owe tens of billions in costs related to these forever chemicals.

    Why it matters

    Corteva was formed in 2019 through a merger. The company recently split its crop protection and seed businesses, with Vylor joining the S&P 500 on October 1. These legal challenges focus on whether the corporate restructuring was a bad-faith attempt to avoid paying for environmental contamination.

    What is confirmed

    • Sixteen US states and Guam filed a lawsuit against Corteva, Vylor, and EIDP.
    • The lawsuit alleges Corteva transferred billions of dollars in assets to Vylor to evade PFAS liabilities.
    • The legal action was filed in a Marion County, Indiana state court.
    • Vylor was added to the S&P 500 on October 1.
    • Corteva will replace Olin Corp in the S&P MidCap 400 on October 6.

    Still unconfirmed

    • DuPont and Corteva are accused of shielding $40 billion in PFAS assets.
    • Corteva and Vylor owe tens of billions in PFAS costs.

    What to watch next

    • Court ruling on Indiana's request to freeze asset transfers
    • Corteva's legal response to the allegations of illegal asset shielding
    • Potential expansion of the lawsuit to include other DuPont successors
    Sources used for this update (15)
    1. Reuters — US states challenge Corteva spinoff as bid to evade PFAS liabilities
    2. Law360 — DuPont, Corteva Accused Of $40B PFAS Asset Shielding
    3. marketscreener.com — States say that DuPont successors Corteva and Vylor owe tens of billions in PFA costs
    4. Indianapolis Business Journal — Indiana seeks to freeze Corteva asset transfer over PFAS liabilities
    5. Agrolatam — States Sue Corteva Over Vylor Spinoff and Billions in PFAS Liabilities
    6. WPTA | 21Alive | Fort Wayne, IN — Rokita sues company for allegedly covering up forever chemical use
    7. www.devdiscourse.com — Reuters Health News Summary | International
    8. www.insurancejournal.com — US States Challenge Corteva Spinoff as Bid to Evade PFAS Liabilities - Insurance Journal
    9. www.claimsjournal.com — States Challenge Corteva Spinoff as Bid to Evade PFAS Liabilities
    10. www.delawarebusinessnow.com — Lawsuit: Corteva spinoff was designed to evade ‘forever chemical’ claims
    11. www.marketscreener.com — Corteva to Join S&P MidCap 400 Following Vylor Spinoff | MarketScreener
    12. ca.marketscreener.com — States say that DuPont successors Corteva and Vylor owe tens of billions in PFA costs | MarketScreener Ca....
    confidence 90%
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