A Delaware state court has tossed a lawsuit by the Chemours Company, an E.I. du Pont de Nemours and Company spinoff, that alleged its former parent had unlawfully “spectacularly underestimated” Chemours’ exposure to environmental liabilities when creating the company in 2015.
Vice Chancellor Sam Glasscock of the Court of Chancery of Delaware on Monday ruled that under the terms of the separation agreement creating the spinoff, the court lacked jurisdiction over disputes arising from the agreement, which are subject to arbitration.
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