3M's Combat Arms Earplugs Litigation Settlement Anticipated To Surpass 98% Participation Milestone

(RTTNews) - 3M Company (MMM) announced on Monday that the number of participants in the Combat Arms Earplugs litigation settlement is anticipated to surpass the 98% participation milestone outlined in the settlement agreement by the final registration date of March 25, 2024.

According to the settlement terms revealed in August 2023, 3M pledged to pay a total of $6 billion to settle the litigation between 2023 and 2029. The company also had the choice to pay up to $1 billion of the total in 3M stock or cash.

However, following the fulfillment of the 98% participation level, 3M has decided to pay the $1 billion in cash rather than stock.

The company stated that over 250,000 eligible claimants have opted to take part in the settlement and dismiss their claims.