NEW YORK (AP) -- Invista, a producer of polyester and nylon products, has filed a $1 billion lawsuit against chemical maker DuPont Co.
Invista's lawsuit alleges that DuPont in 2004 sold Invista 14 manufacturing plants in 5 countries for $4 billion that were noncompliant with safety and environmental laws and regulations.
According to the lawsuit filed in U.S. District Court in the Southern District of New York, Invista is seeking compensatory damages of at least $800 million, plus punitive damages to deter future conduct.
''We're reviewing the lawsuit, and it appears to be grossly exaggerated,'' DuPont spokesman Anthony Farina said in a telephone interview.
The facilities that are located in the U.S. include plants in South Carolina, Tennessee and Delaware.
Shares of Wilmington, Del.-based DuPont declined 66 cents to $46.64 in afternoon trading.
