Not A Single Dollar for Imprelis Losses Has Been Recovered By DuPont from Secret Insurers As Of June 30, 2013
Good Morning, Bonjour, Guten Tag,
Investors, slippery proponents for DuPont Management have cleverly and systematically misled the investment community as to insurance covering the waxing Imprelis losses and prospects for loss recovery.
According to SEC filings, to date after more than two years since tens of thousands of Imprelis claims begin to pile up, not a single dollar of insurance has been recovered by DuPont with respect to Imprelis claims paid out by DuPont. Why? We strongly suspect the fact this new product failure is steeped in fraud per the cogent allegations of thousands of Imprelis plaintiffs. As a general rule, state laws and public policy prohibit insurers from insuring against fraud committed by the insured and paying out claims from self-generated fraud is illegal. In short, the insured cannot be enriched by its own commission of fraud. Interesting to note that DuPont Management has never disclosed the identity of these secret "insurance carriers" alluded to in small print footnotes to SEC filings.
So far, DuPont has incurred nearly $900 million in Imprelis charges (no insurance recovery) from claims submitted directly to DuPont to the Company's internal claims resolution programme. Pending are what we believe conservatively is another $2 billion or more in claims in litigation in thousands of lawsuits in federal
and state courts.
Investors must assiduously cut through the Teflon Curtain to see what is behind in order to value this unwieldy conglomerate based in Delaware. ..
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Merely the morning comments of one individual investor and long-time student of the ethically decayed &