More than 249,000 claimants have accepted 3M earplug settlements, and another 41,000 lawsuits have been dismissed by the judge presiding over the litigation, bringing an end to the massive litigation over hearing loss and tinnitus
Remaining veterans left with hearing loss or tinnitus have until late next week to decide whether to opt in or out of the 3M Combat Arms earplugs settlement agreement.
Those wishing to opt-out of the 3M earplug settlement must take action by January 15 to inform the court.
This is the first of a series of 3M earplug settlement payments expected to take place between now and 2029, which will resolve more than 200,000 hearing loss and tinnitus claims brought by former military servicemembers.
3M has proposed using common stock to pay for $1 billion of its $6 billion earplug settlement agreement.
As the latest 3M earplug settlement update is issued by the Court, there remain questions over whether enough veterans will sign onto the deal to finalize the pact, which would average about $24,000 per claim.
Nearly 300,000 hearing loss lawsuits are currently being pursued against 3M Company by veterans who claim they were issued defective earplugs during military service between 2003 and 2015
3M Company reported $6.84 billion losses in latest quarterly report, as the costs of the firefighter foam and earplug hearing loss lawsuits continue to mount.
The decision could determine whether 3M earplug lawsuit rulings made by a federal district judge can be challenged by the manufacturer in bankruptcy court.
Judge Rodgers said the Court will continue to rule on Daubert and dispositive motions in the first wave of cases set to be remanded for trial while waiting for the results of the appeal.
