Key facts
- Doe Run Resources, controlled by Ira Rennert's Renco Group, will pay $150 million to settle a lead poisoning case.
- The settlement covers 1,373 Peruvians who claimed they were poisoned near a smelter in La Oroya, Peru.
- Plaintiffs alleged Doe Run released lead, arsenic, cadmium, and other hazardous substances from the smelter.
- The case has been ongoing for 19 years.
- Doe Run Resources did not admit wrongdoing as part of the settlement.
A company controlled by American billionaire Ira Rennert has agreed to a $150 million settlement with 1,373 Peruvians who claimed they suffered lead poisoning and other toxic exposures near a smelter in La Oroya, Peru. The settlement with Doe Run Resources, part of Rennert's Renco Group, was announced Tuesday in St. Louis federal court, just as the first of four bellwether trials in the 19-year-old case was set to begin.
Plaintiffs accused Doe Run of releasing lead, arsenic, cadmium, and other hazardous substances from the smelter, which a subsidiary purchased in 1997. They alleged that some mismanagement occurred in the United States, entitling them to damages for physical injuries, learning impairments, emotional distress, and lost income. Doe Run stated that the smelter had polluted the area for decades under various ownerships, including the Peruvian government, and that the government had failed to fulfill its cleanup responsibilities.
Doe Run Chief Executive Matt Wohl expressed a desire to move past the litigation, stating the company's focus is on its business, customers, and technological investments. Plaintiffs' lawyer Jerome Schlichter anticipates filing the settlement agreement with the court within seven to 10 days, pending judicial approval. He highlighted the success of the clients' perseverance over a 19-year legal battle and noted the significance of individuals from impoverished Peru finding recourse in American courts.
Ira Rennert, 92, has an estimated net worth of $3.8 billion, according to Forbes.