Today, the national law firm Baron & Budd, P.C. announced four structured settlements with Monsanto Company, Pharmacia LLC, and Solutia, Inc. on behalf of the states of Arizona, Arkansas, Hawaii, and Mississippi to resolve claims arising from environmental contamination caused by PCBs.
Under the agreements, the four states will collectively receive guaranteed payments of approximately $132.3 million, which includes a combination of up-front payments and future guaranteed backstops. These agreements are structured in a way that the four states may also receive additional recoveries which are contingent on the outcome of related Monsanto legal actions. Arizona will receive $48.75 million, with total potential recovery of up to $120 million; Arkansas will receive $32 million, with total potential recovery of up to $80 million; Hawaii will receive $21.55 million, with total potential recovery of up to $45 million; and Mississippi will receive $30 million, with total potential recovery of up to $75 million.
Baron & Budd, P.C. has a long history of representing local public entities and States in PCB litigation against Monsanto. “Our experience in PCB litigation allowed us to negotiate these four settlements without the need for protracted litigation,” said Baron & Budd Shareholder and head of the firm’s Environmental Litigation Group Scott Summy. “We are grateful that our clients have achieved recoveries for PCB contamination that impacted natural resources and waterways across these States.”
Polychlorinated biphenyls (PCBs) are man-made chemical compounds that have become widespread environmental contaminants and have been associated with adverse effects to aquatic life and ultimately humans, when found in waterways. Monsanto Company was the sole manufacturer of PCBs in the United States from the 1930s through the 1970s. During that period, it became known that PCBs could not be effectively contained within the products in which they were used but instead were released into and transported through the environment, including through water, soil, and air and accumulated in plant and animal tissues worldwide.
ABOUT BARON & BUDD, P.C.
With more than 40 years of experience, Baron & Budd has the expertise and resources to handle complex litigation throughout the United States. As a law firm that takes pride in remaining at the forefront of litigation. Baron & Budd has spearheaded many significant cases for hundreds of public entities and tens of thousands of individuals. Since the firm was founded in 1977, Baron & Budd has achieved substantial national acclaim for its work on cutting-edge litigation, trying cases to verdict and settling cases in areas of litigation as diverse and significant as dangerous and highly addictive pharmaceuticals, defective medical devices, asbestos and mesothelioma, wildfires, environmental contamination, fraudulent banking practices, e-cigarettes, motor vehicles, federal whistleblower cases, and other consumer fraud issues.
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