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Stock impact report

Toxic waste in New Jersey town caused $1 billion in harm and the settlement deal with BASF isn't enough, environment group says [Fortune]

BASF SE S/ADR (BASFY) 
NASDAQ:AMEX Investor Relations: basf.com/en/company/investor-relations.html
Company Research Source: Fortune
resources, according to an environmental group trying to overturn a settlement between New Jersey and the corporate successor to the firm that did the polluting. Save Barnegat Bay and the township of Toms River are suing to overturn a deal between the state and German chemical company BASF under which the firm will pay $500,000 and carry out nine environmental remediation projects at the site of the former Ciba-Geigy Chemical Corporation plant. That site became one of America's worst toxic waste dumps and led to widespread concern over the prevalence of childhood cancer cases in and around Toms River. Save Barnegat Bay says the settlement is woefully inadequate and does not take into account the scope and full nature of the pollution. The state Department of Environmental Protection defended the deal , saying it is not supposed to be primarily about monetary compensation; restoring damaged areas is a priority, it says. “Ciba-Geigy's discharges devastated the natural resource Show less Read more
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