3M Settles $6 Billion Earplug Lawsuits with U.S. Service Members

3M has agreed to pay $6 billion to settle lawsuits from U.S. service members who suffered hearing loss or other injuries after using faulty earplugs made by the company. The settlement, consisting of $5 billion in cash and $1 billion in 3M stock, will be paid out through 2029. This marks the resolution to one of the largest mass torts in U.S. history, with hundreds of thousands of veterans and current service members suing 3M over their Combat Arms Earplug products. 3M maintains that the settlement is not an admission of liability. Additionally, 3M is also facing a separate settlement over contamination of public drinking water systems with harmful chemicals.