This chemical and consumer goods manufacturer paid $250 million to the Qualified Settlement Fund on December 26th, expected to result in 25000 to 30000 claimants dismissing the related lawsuits. On Monday, 3M announced that it is accelerating the payment of another $253 million to resolve the “Wave” case by January 31st.
3M, headquartered in S ã o Paulo, Minnesota, reached a $6 billion settlement agreement in early August. Over 2 million veterans and active duty soldiers sued the company and Aearo Technologies, which 3M acquired in 2008, over their Combat Arms Earplugs.
In years of litigation, service personnel claimed that defective designs caused the product to loosen slightly and could lead to hearing loss, according to Aylstock, Witkin, Kreis, and Overholtz PLLC, one of the law firms representing the plaintiff.
When announcing the August agreement, 3M insisted that the settlement agreement (including $5 billion in cash and $1 billion in stocks) was not a recognition of responsibility.
Payment will continue from 2023 to 2029. It is currently unclear whether each claimant will receive notification and settlement checks. The Associated Press contacted the plaintiff’s lawyer on Thursday for more information.
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