: 3M to pay up to $6B between 2023 and 2029 to settle Combat Arms Earplug suit

3M Co. stock MMM was up 0.8% in pre-market trades Tuesday after it agreed to pay up to $1 billion in stock and $5 billion in cash from 2023 until 2029 to settle a lawsuit against it and Aearo Technologies over the Combat Arms Earplug product. The St. Paul, Minn., conglomerate said it reached an agreement with a court-appointed plaintiff’s counsel to resolve claims it sold potentially faulty ear protection to the U.S. military. “This agreement is not an admission of liability,” 3M said. “The products at issue in this litigation are safe and effective when used properly.” The settlement covers all claims in the multi-district litigation in Florida and in Minnesota, as well as potential future claims, the company said. Courts in Florida and Minnesota are ordering implementation of the agreement in the case.

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