3M has faced multiple lawsuits in recent years
NEW YORK — Manufacturing giant 3M said Tuesday it has reached a $6 billion settlement over claims by U.S. military veterans that its earplugs were faulty and failed to protect their hearing.
The company is hoping the agreement draws a line under the long-running legal saga, which has seen the company hit by thousands of lawsuits by veterans complaining of hearing loss.
The mediated agreement will see 3M "contribute a total amount of $6.0 billion between 2023 and 2029, which is structured under the agreement to include $5.0 billion in cash and $1.0 billion in 3M common stock," 3M said.
Leave a Comment