secwatch.observer — SEC 8-K summary
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Issuer:     Johnson Controls International plc (JCI)
CIK:        0000833444
Form:       8-K
Filed at:   2024-04-12T23:59:59+00:00
Accession:  0000833444-24-000023
Event type: litigation
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Johnson Controls subsidiary Tyco Fire Products agrees to $750 million settlement of PFAS water system claims
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- Tyco Fire Products agreed to contribute $750 million to resolve PFAS claims from a nationwide class of public water systems.
- Settlement, recorded as a $750 million charge in the quarter ended March 31, 2024, requires $250 million by May 25, 2024 and $500 million later.
- Claims are released against Tyco and Chemguard, but personal injury, property damage, and other AFFF cases are not affected.
- Tyco expects insurance to cover a substantial portion of the payment, but amount and timing are uncertain.
- Settlement is subject to court approval and excludes certain water systems, including those that opt out or detect PFAS after May 15, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/833444/000083344424000023/0000833444-24-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/833444/000083344424000023/jci-20240412.htm
  HTML page:      https://secwatch.observer/filing/0000833444-24-000023

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