Posted 8/29/2023, 6:28:50 PM

3M Says It Will Pay $6 Billion to Resolve Combat Earplug Lawsuits

3M, a chemical and manufacturing giant, has agreed to pay $6 billion to settle lawsuits brought by military service members and veterans who claimed that their combat earplugs caused hearing damage and tinnitus.

nytimes.com

Relevant topic timeline:

8/25/2023

SEC.gov

3M Company has agreed to pay over $6.5 million to settle charges that it violated the Foreign Corrupt Practices Act by arranging overseas trips for Chinese government officials as a means to induce them to purchase 3M products.

8/28/2023

Wall Street Breakfast: Labor Rising

Unions are gaining momentum as workers across various industries threaten strikes and demand better compensation and conditions, with the potential for significant economic losses and impacts on industries such as autos and Hollywood. Meanwhile, U.S. Commerce Secretary Gina Raimondo visits China to discuss trade and investment, and 3M settles a lawsuit over defective combat earplugs for over $5.5 billion. Additionally, the Biden administration is expected to announce the first ten drugs subject to Medicare price negotiations.

8/28/2023

3M Stock Soars on Reported Earplugs Settlement. $5.5 Billion Is a Win for Investors.

3M stock surges after reaching a reported $5.5 billion settlement over earplugs, providing a win for investors.