3M Says $6 Billion Earplug Settlement Moves to Final Resolution
By Will Feuer
3M said its $6 billion settlement of allegations that its earplugs caused hearing loss among veterans is moving to final resolution with nearly all claimants participating.
Of more than 293,000 claims, more than 249,000 claimants have agreed to participate in the settlement, 3M said. Another more than 41,000 claims have been dismissed by the courts.
3M said it expects to have more than 99.9% of eligible claimants participate in the settlement.
3M has agreed to pay out up to $6 billion from 2023 to 2029 to resolve the litigation. The company is working with Aearo on recovering some of the settlement payments via insurance.
The company said the settlement amount represents a total pre-tax present value of $5.3 billion, for which it has previously recorded reserves.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
March 26, 2024 07:00 ET (11:00 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What History Tells Us About the Fed’s Next Move
-
What’s Happening In the Markets This Week
-
Alphabet’s New Dividend: What Investors Need to Know
-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?
-
What’s the Difference Between the CPI and PCE Indexes?
-
5 Stocks to Buy That We Still Like After They’ve Run Up
-
Markets Brief: Stocks Are Starting to Look Cheap Again
-
AbbVie Earnings: Next-Generation Immunology Drugs Help Offset Humira Biosimilar Pressure
-
Exxon Earnings: Ignore Earnings Shortfall as Long-Term Growth and Improvement on Track
-
American Airlines Earnings: We See Costs Overshadowing Market Share This Year
-
Snap Earnings: Advertising Growth and Snapchat+ Drive Monetization
-
STMicro Earnings: We Still See an Attractive Margin of Safety Despite a Poor First-Half Forecast
-
Alphabet Shares Surge on Strong Earnings, Dividend Surprise
-
Microsoft Earnings: Firm Beats Forecasts on Strong AI and Cloud Demand
-
PG&E Earnings: Near-Term Regulatory Certainty Supports Industry-Leading Earnings Growth