3M Agrees to $6 Billion Settlement Over Defective Combat Earplugs

M will pay $6 billion to settle over 300,000 lawsuits regarding defective combat earplugs sold to the U.S. military.
The earplugs allegedly caused hearing damage, tinnitus, and other injuries in service members and veterans.
The settlement includes $5 billion in cash and $1 billion in 3M stock to be paid out over several years starting in 2023.
M denies liability but settled to avoid further legal costs and risks from ongoing trials and lawsuits.
This comes after 3M's previous $10 billion settlement over water contamination claims related to its chemicals business.