Last week a major new jury verdict in the C-8 multidistrict litigation against DuPont was issued. Ultimately, Chemours securities are up after the week’s events but dropped initially on July 6 after a jury found DuPont liable for punitive damages (the amount of which the jury still needed to determine) and $5.1 million in compensatory damages for causing David Freeman’s testicular cancer. The debt and equity rebounded almost completely after Chemours signaled to investors that night that there would be no more jury trials - and resultantly no more bad news of jury verdicts - until May 2017 when 40 cancer cases are scheduled to be tried in the MDL. Still, investors in Chemours awaited what multiple of the $5.1 million in compensatory damages the jury might grant for punitive damages, and sent the company’s securities above pre-verdict levels on July 8 when, after one day of testimony, the jury awarded a tenth in punitive damages of what they awarded in compensatory damages.
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