CTVA•Fifteen U.S. states and Guam sued Corteva and Vylor, alleging Corteva's seed-business spinoff was designed to avoid tens of billions of dollars in legacy liabilities tied to PFAS pollution.
The states filed the lawsuit in Indiana state court on Thursday, alleging Vylor received Corteva's seed and genetics business without assuming liabilities related to PFAS. They say the transaction attempted to put assets beyond the reach of creditors pursuing claims against former DuPont companies.
Corteva completed the spinoff of its seed and genetics business into a separately traded company on Thursday. The complaint says Corteva contractually assumed DuPont's PFAS liabilities, while the Vylor transaction sought to spin off the profitable seed business without taking on those debts.
