Wednesday, December 14, 2005

CORPORATE CRIME: EPA bitchslaps DuPont

The largest civil administrative penalty the EPA has ever obtained under any federal environmental statute will be levied against DuPont for violations related to the synthetic chemical Perfluorooctanoic Acid (PFOA), a chemical associated with Teflon and with grease and stain repellants, under provisions of both the Toxic Substances Control Act and the Resource Conservation and Recovery Act.

Meanwhile, DuPont Shareholders for Fair Value (a group of investors concerned with financial impacts of DuPont's use of PFOA ) responded today to a decision by a federal appeals court in San Francisco to reinstate racketeering suits that charge DuPont with hiding information about a widely used fungicide called Benlate. It ain't good when your shareholders turn against you. Read more: DuPont Investor Coalition Cites Reinstatement of Racketeering Case Against DuPont As Echoing Concealment Risks on Teflon Chemical

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