3M's $6 billion earplug settlement sparks more legal battles
3M has reached a $6.01 billion settlement with approximately 250,000 plaintiffs who alleged that the company manufactured defective earplugs resulting in hearing loss. However, 3M still faces other legal challenges, including a $10.3 billion settlement awaiting approval over drinking water contamination with "forever chemicals." The company's total liability risk related to PFAS contamination is estimated to be nearly $30 billion. 3M has also faced lawsuits from countries such as the Netherlands and Belgium. To fund its settlements, 3M has cut costs and plans to spin off its health-care business. The company's dividend is at risk, and analysts expect it to be lowered following the spin-out.