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3M Settles PFAS Litigation for $7.35 Billion

1 report, 1 independent Updated Wed 00:00
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What happened

Some supportReported by 1 outlet

3M agreed to pay $7.35 billion to settle litigation concerning personal injury claims related to PFAS, or "forever chemicals," in products manufactured by the company. The settlement, which does not include an admission of liability, will distribute payouts over nine years to as many as 120,000 people. 3M plans to record a $5.8 billion pre-tax charge in the fourth quarter, representing the present value of future payments.

From 933thedrive.com

Why it matters

Some supportBrind's analysis of the reports

The agreement removes a significant financial overhang on 3M's shares, according to a UBS analyst. The settlement addresses approximately 99% of personal injury claims both inside and outside the United States.

From 933thedrive.com

Who's involved

  • 3MIndustrial products company settling litigation over PFAS chemicals.
  • CharlestonLocation where the federal court litigation took place.

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The entities involved

Coverage

Newest first; wire copies grouped