3M Settles $6B Lawsuits Over Faulty Military Earplugs

Manufacturing giant 3M has agreed to pay $6 billion to settle hundreds of thousands of claims brought by military veterans who alleged that its earplugs caused hearing loss and tinnitus during their service. The settlement, which resolves one of the largest mass torts in U.S. history, includes $5 billion in cash and $1 billion in stock. While 3M denies any liability and maintains that its earplugs are safe when used properly, the company is prepared to defend itself through litigation if certain terms of the settlement agreement are not fulfilled. The case originated from a whistleblower lawsuit filed by rival earplug maker Moldex-Metric on behalf of the U.S. government, alleging a known defect in the earplugs.