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3M is close to ending the massive lawsuit it is currently dealing with. This comes after it announced its agreement to settle the case for $6 billion.
3M’s lawsuit is said to be the largest tort litigation in America’s history. This is a type of lawsuit where the claimant suffered loss or harm, resulting in legal liability for the party that committed the tortious act.
In this case, 3M was sued for alleged defective earplugs that caused the hearing loss of some military veterans and service members. The multinational conglomerate headquartered in Minnesota confirmed on Tuesday, Aug. 29, that it has settled with about 250,000 individuals who lodged the complaint.
Then again, CNBC reported that while 3M may have already settled one of its biggest lawsuits, the company is still facing other cases. It was reported that it is hoping to settle another litigation.
It is currently waiting for approval of another settlement worth $10.3 billion. This involves the contamination of drinking water where 3M is being accused of polluting water utilities with substances called the “forever chemicals.” These are the per and polyfluoroalkyl substances (PFAS) that got their name for the fact that they are persistent and can remain in existence for thousands of years.
Meanwhile, 3M said that while it agreed to settle with the plaintiffs for its earplugs, it reiterates this does not mean it is admitting that its product was faulty and caused the hearing loss.
“This agreement, reached through the mediation process that 3M has previously disclosed, is structured to promote participation by claimants and is intended to resolve all claims associated with the Combat Arms Earplug products,” the company said in a press release.
3M added, “This agreement is not an admission of liability. The products at issue in this litigation are safe and effective when used properly. 3M is prepared to continue to defend itself in the litigation if certain agreed terms of the settlement agreement are not fulfilled.”
Photo by: 3M Media Gallery
