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Law firm Shine Justice (ASX: SHJ) has settled another class action lawsuit relating to exposure to PFAS (per- and polyfluoroalkyl) chemicals to the tune of $22 million, subject to Federal Court approval.
The settlement comes just around two weeks after Shine reached a $132.7 million settlement in a class action on behalf of a group affected by toxic PFAS chemicals who alleged their properties lost value due to land contamination.
PFAS substances, found in firefighting foam, are a complex group of around 4,000 synthetic chemicals that do not break down naturally and instead accumulate over time in humans and in the environment
This latest settlement in the matter of the Wreck Bay Aboriginal Community Council resolves a dispute between the applicants and the Commonwealth of Australia, with affected community members claiming losses to property value and use and enjoyment of the land, as well as cultural losses due to exposure to firefighting foam around Wreck Bay in the Jervis Bay Territory.
It also comes after Shine successfully secured a $215.5 million settlement for thousands of victims of PFAS chemical contamination via a deal struck in 2020.
That settlement gave closure to residents in Katherine in the Nothern Territory, those in Williamtown in New South Wales and occupants of Oakey, Queensland whose property values declined in value as a result of PFAS contamination.
Shares in SHJ are down 3.45 per cent to $0.70 per share at 12.27pm AEST.
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