Solstice Advanced Materials issued the following statement:

“Solstice and plaintiffs’ counsel have reached an agreement in principle on a global settlement of all litigation relating to the Metropolis facility, a critical part of the nuclear fuel supply chain and the only uranium conversion facility in the U.S. A significant portion of the settlement includes investments in programs designed to improve the lives of the citizens of Metropolis. As part of continued negotiations to implement the settlement in principle, these programs will be developed with key partners in the community, including the plaintiffs. The settlement agreement in principle remains subject to the parties formalizing the settlement in a definitive signed written agreement, as well as approval from the court and a variety of governmental entities and other stakeholders.

“Solstice continues to deny the allegations in the underlying lawsuits; is not admitting any liability, wrongdoing or violation of the law; and believes that it has strong defenses. Nevertheless, Solstice has determined that resolving the matter at this time is in the best interests of its shareowners and stakeholders, allowing it to avoid the expense, uncertainty and distraction associated with prolonged litigation, which dates back to 2018. Settling the lawsuit will allow us to remain focused on executing our mission of safely producing the uranium hexafluoride that is critical to the needs of our customers and the nation’s energy security. Solstice does not expect the settlement to have material impact on the business operations or financial performance of the company.”

Plaintiffs’ Counsel Richard Kruger and Kevin Thompson issued the following statement:

“The opposing parties announced today a historic settlement of claims that will benefit Metropolis. This litigation was filed as a series of cases, including a class action on behalf of local residents as well as individual cases brought by citizens, the city and the county alleging property damage and personal injury. Today’s settlement represents a major step forward and is fashioned to ensure significant investment into local public health measures. The settlement of the class action will now be subject to court review and approval, which will take several months to complete.”