Solstice Advanced Materials, Plaintiffs Announce Agreement in Principle to Settle Longstanding Litigation Related to Metropolis Works Operations

Rhea-AI Summary

Key Figures

Court review timeline: Several months

Court review timeline

Several months

Review and approval of the class action settlement

Key Terms

uranium hexafluoride

1 terms

uranium hexafluoride technical

"safely producing the uranium hexafluoride"

Uranium hexafluoride is a chemical form of uranium that turns into a gas when heated and is used in the process that separates uranium isotopes for nuclear fuel. Think of it as the version of uranium that can be put through a machine to sort the useful pieces from the rest; its availability, price, transport and regulatory controls directly affect the cost and supply of fuel for nuclear power and so can influence companies in mining, utilities and energy-related markets.

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MORRIS PLAINS, N.J., Sept. 29, 2026 /PRNewswire/ -- Solstice Advanced Materials (NASDAQ: SOLS), a global leader in high-performance specialty materials, announced today that it has reached an agreement in principle with plaintiffs representing individual and putative class members, the City of Metropolis, Ill., and Massac County, Ill., regarding the operations of Solstice's Metropolis Works uranium conversion plant.

Solstice Advanced Materials issued the following statement:

"Solstice and plaintiffs' counsel have reached an agreement in principle on a global settlement of all litigation relating to the Metropolis facility, a critical part of the nuclear fuel supply chain and the only uranium conversion facility in the U.S. A significant portion of the settlement includes investments in programs designed to improve the lives of the citizens of Metropolis. As part of continued negotiations to implement the settlement in principle, these programs will be developed with key partners in the community, including the plaintiffs. The settlement agreement in principle remains subject to the parties formalizing the settlement in a definitive signed written agreement, as well as approval from the court and a variety of governmental entities and other stakeholders.

"Solstice continues to deny the allegations in the underlying lawsuits; is not admitting any liability, wrongdoing or violation of the law; and believes that it has strong defenses. Nevertheless, Solstice has determined that resolving the matter at this time is in the best interests of its shareowners and stakeholders, allowing it to avoid the expense, uncertainty and distraction associated with prolonged litigation, which dates back to 2018. Settling the lawsuit will allow us to remain focused on executing our mission of safely producing the uranium hexafluoride that is critical to the needs of our customers and the nation's energy security. Solstice does not expect the settlement to have material impact on the business operations or financial performance of the company."

Plaintiffs' Counsel Richard Kruger and Kevin Thompson issued the following statement:

"The opposing parties announced today a historic settlement of claims that will benefit Metropolis. This litigation was filed as a series of cases, including a class action on behalf of local residents as well as individual cases brought by citizens, the city and the county alleging property damage and personal injury. Today's settlement represents a major step forward and is fashioned to ensure significant investment into local public health measures. The settlement of the class action will now be subject to court review and approval, which will take several months to complete."

About Solstice Advanced Materials 

Solstice Advanced Materials is a leading global specialty materials company that advances science for smarter outcomes. Solstice offers high-performance solutions that enable critical industries and applications, including refrigerants, semiconductor manufacturing, data center cooling, nuclear power, protective fibers, healthcare packaging and more. Solstice is recognized for developing next-generation materials through some of the industry's most renowned brands such as Solstice®, Genetron®, Aclar®, Spectra®, Fluka™ and Hydranal™. Partnering with over 3,000 customers across more than 120 countries and territories and supported by a robust portfolio of over 5,700 patents and pending applications, Solstice's approximately 4,100 employees worldwide drive innovation in materials science. For more information, visit www.Solstice.com.

Forward-Looking Statements

This news release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts, but rather are based on current expectations, estimates, assumptions and projections. These statements include, but are not limited to, statements regarding the development of programs in Metropolis, Ill., the formalization of the agreement in principle and Solstice's ability to obtain approval of the formalized settlement agreement by the court and other stakeholders, which may not occur in a timely manner or at all, and the potential impact of the settlement on Solstice's operations.  These statements involve risks and uncertainties, many of which are difficult to predict and are outside of Solstice's control, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include, without limitation, ongoing macroeconomic and geopolitical risks, such as changes in or application of trade and tax laws and policies, including the impacts of tariffs and other trade barriers and restrictions, lower GDP growth or recession in the U.S. or globally, supply chain disruptions, capital markets volatility, and inflation, that can affect Solstice's performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, Solstice's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission on February 19, 2026, and other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. Solstice does not undertake to update or revise any of its forward-looking statements, which speak only as of the date they are made, except as otherwise required by securities or other applicable law.

Media:
Phil Terrigno
(973) 768-8868
Phil.Terrigno@Solstice.com

Investors:
Mike Leithead
(973) 370-8188
Michael.Leithead@Solstice.com

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SOURCE Solstice Advanced Materials US, Inc.