A “Sticky” Situation: Addressing PFAS Risk in Corporate Transactions
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PFAS is a catch-all term for the chemical compounds per- and polyfluoroalkyls (including PFOA, PFOS, and replacements such as GenX). Seemingly overnight, these substances have gone from something talked about mainly by environmental lawyers and advocates to something that the public is increasingly focused on. The reasons for this shift include EPA’s and the states’ move to regulate these substances, recent lawsuits targeting PFAS manufacturers, and a better understanding of the way these substances may persist in the environment and harm human health. Because the future costs and obligations regarding the cleanup of, and human exposure to, PFAS are uncertain and likely significant, they present a challenge for environmental attorneys and their clients when performing deal diligence and negotiating contracts.