3M announces Combat Arms Earplugs litigation settlement to exceed 98%

3M announced that claimant participation in the Combat Arms Earplugs litigation settlement is on track to exceed the 98% participation threshold set forth in the settlement agreement by the final registration date of March 25. Under the terms of the settlement announced in August 2023, 3M agreed to pay a total of $6B to resolve the litigation over the time period of 2023 to 2029, including the option to pay up to $1B of that total in 3M stock or cash, upon satisfaction of the 98% participation level. 3M has elected to pay the $1B in cash, instead of stock. The support from more than 250,000 eligible claimants who have elected to participate in the settlement and release and dismiss their claims, coupled with ongoing dismissals of claims that do not meet participation or litigation requirements ordered by the MDL Court, are expected to resolve more than 99% of the claims in the litigation by the final registration date.