3M contemplates $5.5B settlement for earplug lawsuits alleging hearing damage
Fox News
3M's board of directors is nearing a decision on settling nearly 260,000 lawsuits filed by U.S. military members and veterans alleging hearing damage caused by the company's earplugs.
3M shares were up more than 4% on Monday morning following reports by Bloomberg and the Wall Street Journal that the company had reached a tentative $5.5 billion settlement in the litigation.
A 3M spokesperson declined to comment. The company has denied that its earplugs were defective.
The Combat Arms earplugs were made by Aearo Technologies, a company 3M acquired in 2008. They were used by the U.S. military in training and combat from 2003 to 2015, including in Afghanistan and Iraq.
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