3M says Combat Arms Earplug settlement ‘reaches next milestone’

3M stated: “Since the Combat Arms Earplug settlement agreement was announced in August 2023, it has received strong and widespread support from claimants and the broader military community. This support has helped the parties and the courts reach the next milestone set forth in the agreement toward full implementation of the settlement. Recent updates include: On December 26, 3M made a payment of $250 million to the Qualified Settlement Fund to compensate claimants seeking expedited payments under the settlement agreement. This is an important next milestone, and it is anticipated that with this payment, between 25,000-30,000 claimants will dismiss any associated litigation. In addition, the court has dismissed more than 22,000 claims from the docket for failure to comply with the court’s orders as the parties work to resolve the pool of identified claimants. Aearo and 3M will continue to work with all parties and the courts toward full implementation of the settlement agreement, and will provide updates as additional milestones are reached. Additional details of the agreement, including the anticipated payment schedules provided that certain conditions are met, are available in 3M’s filings with the Securities and Exchange Commission.”