Companies across various industries are facing a potentially precarious future due to mounting litigation linked to the use and proliferation of ‘forever chemicals’. Lurking risks to their bottom lines from these lawsuits could be significant, with predicted liabilities stretching into the trillions of dollars.
The industry’s concern centers around per- and polyfluoroalkyl substances, commonly known as PFAS. These chemicals, resistant to heat, grease, stains, and water, have found extensive use in numerous everyday products such as cosmetics, carpets, and food packaging.
The litigation over PFAS, while still in its early stages, has already resulted in substantial settlements.
3M Co. entered into a multibillion-dollar settlement recently due to its association with PFAS. Similarly, Kidde-Fenwal Inc., a company specializing in fire detection and suppression, has blamed its Chapter 11 bankruptcy on over 4,400 lawsuits accusing it of producing firefighting foam laden with PFAS.
These chemicals, which do not naturally decompose, have become a public health concern, having been linked to numerous health issues. The prospect of massive clean-up costs, coupled with the growing societal and governmental distaste for PFAS, compounds the jeopardy faced by these companies.
With these factors in mind, and as knowledge and understanding of the consequences of PFAS use increases, the scale of the looming economic and legal impact of PFAS litigation on companies could be monumental.