DuPont Co. has lost a bid to keep the contents of a lawsuit filed by Chemours secret.
Vice Chancellor Sam Glasscock, III, denied an appeal to the state Supreme Court regarding the lawsuit from the company that was spun off from DuPont.
According to the ruling, details of the suit were redacted, a common termthese days after the Mueller investigation into Russian interference in the 2016 election.
Details of the Chemours suit were blacked out at the insistence of DuPont. DuPont claimed the confidentially was necessary and that the spinoff agreement already called for disputes to go into arbitration.
Glasscock had previously signaled that he would rule in favor of disclosure after DuPont submitted a summary that contained no details of the lawsuit.
DuPont spun off operations into the Chemours that included. its refrigeration, titanium and mining-related products such as cyanide.
At the time of the spin-off, it was claimed that DuPont was offloading its environmental liabilities through Chemours.
Post-spinoff, Chemours stock fell to as low as $3 a share amid fears of the company being forced to file for bankruptcy protection, due to debt and environmental issues.
Company stock rocketed up to $57 a share,after earnings increased and the debt load lessened. Shares have since fallen into the low to mid-20s as the company faces tougher market conditions and environmental issues that include discharges of chemicals into North Carolina waterways.
Chemours is headquartered in DuPont’s former headquarters in Wilmington. DuPont, which was spun off this month from DowDuPont in a complicated three-way split hasits headquarters operations outside Wilmington. (See earlier story below).