By Will Feuer


3M said its $6 billion settlement of allegations that its earplugs caused hearing loss among veterans is moving to final resolution with nearly all claimants participating.

Of more than 293,000 claims, more than 249,000 claimants have agreed to participate in the settlement, 3M said. Another more than 41,000 claims have been dismissed by the courts.

3M said it expects to have more than 99.9% of eligible claimants participate in the settlement.

3M has agreed to pay out up to $6 billion from 2023 to 2029 to resolve the litigation. The company is working with Aearo on recovering some of the settlement payments via insurance.

The company said the settlement amount represents a total pre-tax present value of $5.3 billion, for which it has previously recorded reserves.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

03-26-24 0700ET