3M Combat Arms Earplugs Products Liability Litigation: Settlement
On August 28, 2023, 3M announced a $6.01 billion settlement to resolve the 230,000+ claims filed against it in the Multi-District Litigation pending in the United States District Court for the Northern District of Florida before Judge M. Casey Rodgers. 3M is denying liability and claims that the earplugs involved in the litigation are safe and effective when used properly. Plaintiffs’ claims stem from allegations that the earplugs caused hearing loss and tinnitus after being used in training and combat situations from 2003-2015. The settlement came after 3M lost 10 of 16 cases that went to trial, leading to verdicts totaling more than $100 million against 3M.
The settlement is structured for 3M to pay $5.0 billion in cash with the remaining proceeds coming from the sale of $1 billion of 3M common stock. The settlement proposes to resolve all claims consolidated in the Northern District of Florida, as well as those brought in a coordinated state action in Minnesota.
3M has the ability to walk away from the settlement if less than 98% of eligible claimants decide to participate. Lead counsel have expressed confidence in being able to meet the threshold. Reports are that the proceeds will be paid out between 2023 and 2029 for claimants. If you have current clients in this litigation, please pay careful attention to the Court’s deadlines because the deadlines will come fast and reportedly will not be moved. Most firms are not expected to accept new clients based upon the strict deadlines.
