3M Agrees to $7.335 Billion PFAS Personal Injury Settlement
The settlement addresses claims from up to 120,000 plaintiffs. 3M expects a $5.8 billion pre-tax charge in the fourth quarter and says its previously issued financial guidance is unchanged. The company has not admitted liability.
3M Company announced a settlement agreement totaling approximately $7.335 billion to resolve personal injury claims linked to per- and polyfluoroalkyl substances (PFAS), which are used in products for their heat, stain, oil, and water-resistant properties. The agreement addresses claims from up to 120,000 plaintiffs who allege health issues resulting from exposure to these chemicals. 3M expects to record a pre-tax charge of $5.8 billion in the fourth quarter related to this settlement, noting that the charge is not expected to impact its previously issued financial guidance.
The company has not admitted liability and stated it is prepared to continue defending itself in ongoing litigation.