The State of NY is suing 3M (NYSE:MMM) and several other companies over toxic firefighting foam.
According to the lawsuit, 3M and the other companies used perfluorooctane sulfonic acid or perfluorooctanoic acid in their firefighting foams. NY claims that it has had to spend time cleaning up areas that have been contaminated by this foam.
NY is seeking to have 3M and the other companies cover the costs of its efforts to clean up these messes. The total for its efforts are allegedly $38 million. 3M is standing against the lawsuit, claiming that it “acted responsibly at all times.”
“As state experts continue to investigate contamination caused by firefighting foams, New York is working to end the dangerous practices that threaten our natural resources,” NY Gov. Andrew Cuomo said in a statement obtained by Newsday. “By taking necessary legal action against these companies, we are sending a clear message that we will do everything in our power to protect New Yorkers.”
NY Attorney General Barbara Underwood says that the state’s Department of Environmental Conservation found high levels of the chemicals in drinking water. This includes concentrations as high as 1,045,000 parts per trillion. The EPA’s public health advisory for drinking water recommends it not exceed 70 parts per trillion, reports The Sydney Morning Herald.
The companies that NY is suing in this case, outside of 3M, are Tyco Fire Products, Chemguard, Buckeye Fire Equipment, National Foam, and Kidde-Fenwal. None of the other companies have yet to comment on the matter.
MMM stock was down slightly as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
