3M earplugs caused hearing loss. Company will settle lawsuit for $6 billion
3M has agreed to pay more than $6 billion to consumers and military members who alleged the company's ear plugs were defective and caused hearing loss, tinnitus and other hearing-related injuries.
Lawyers representing the plaintiffs in the class-action lawsuit called it an "historic agreement" and a victory for veterans. “We are proud to have obtained this settlement, which ensures that those who suffered hearing damage will receive the justice and compensation they so rightly deserve,” lawyers said in a prepared statement on behalf of the plaintiffs.
The plaintiffs were represented by Bryan F. Aylstock of Aylstock, Witkin, Kreis & Overholtz, PLLC, Christopher A. Seeger of Seeger Weiss LLP, and Clayton Clark of Clark, Love & Hutson, PLLC.
3M will contribute the money between 2023 and 2029, with $5 billion in cash and $1 billion in 3M common stock, according to an announcement on its website.
The company added that the "agreement is not an admission of liability" and that the ear plugs "are safe and effective when used properly."
According to the complaint, higher numbers are associated with better hearing protection, but the defendants allegedly used their own laboratory for testing and used "inappropriate testing procedures that substantially skew the results of the NRR labeling tests." The ear plug NRR was allegedly manipulated to 22 when testing showed that rating on eight subject was 10.9.
Aearo, 3M's subsidiary, attempted to file for Chapter 11 bankruptcy but it was dismissed by a judge in June, who determined the company was "financially healthy."
https://finance.yahoo.com/news/3m-earplugs-caused-hearing-loss-224118412.html?fr=sycsrp_catchall