This company is handing-out money left and right
3M said the agreement is “not an admission of liability. The products at issue in this litigation are safe and effective when used properly."
The agreement will result in an approximately $4.2 billion pre-tax charge for the third quarter of 2023. Shares closed 5% higher on Monday because investors were expecting the settlement to be significantly higher.
This marks 3M’s second significant lawsuit settlement this summer. In June, the manufacturer said it would pay up to $10.3 billion over 13 years to fund public water suppliers in the United States that have detected its toxic “forever chemicals” (PFAS) in their water supplies.
3M agrees to pay $6 billion after US military said faulty earplugs led to hearing loss
3M said the agreement is “not an admission of liability. The products at issue in this litigation are safe and effective when used properly."
The agreement will result in an approximately $4.2 billion pre-tax charge for the third quarter of 2023. Shares closed 5% higher on Monday because investors were expecting the settlement to be significantly higher.
This marks 3M’s second significant lawsuit settlement this summer. In June, the manufacturer said it would pay up to $10.3 billion over 13 years to fund public water suppliers in the United States that have detected its toxic “forever chemicals” (PFAS) in their water supplies.
