3M Settles $6B Lawsuits Over Faulty Military Earplugs, Stock Surges

3M has agreed to pay $6 billion to settle approximately 300,000 lawsuits claiming that the company supplied faulty combat earplugs to the US military, resulting in hearing loss and other injuries. The settlement will be paid over several years and includes $5 billion in cash and $1 billion in stock. 3M denies liability and maintains that the earplugs are safe when used properly. This is the second major settlement for 3M this summer, following a $10.3 billion agreement to fund public water suppliers affected by its toxic "forever chemicals."