This substantial resolution, composed of $5 billion in cash and an additional $1 billion in 3M stock, will be disbursed over a series of payments spanning until the year 2029.
It is my understanding that Aearo Technologies manufactured the ear plugs according to the government’s specifications. I also understand that they were manufactured before 3M purchased the company. This settlement represents about 15% of their gross receipts. In order to pay for this settlement 6,000 people lost their jobs and 3M will be laying off 6,000 more people in the coming months. None of those people had anything to do with the ear plugs and 3M did not make them. The plaintiffs waited until a company with deep pockets bought the company so they could cash in. Don’t assume that every large corporation is evil. 3M has a strong culture of integrity and environmental responsibility. They are no longer going to make PFAS. Fire departments will have to find something other than fire fighting foam to save your house. They are also not the only company that makes PFAS. BTW paper straws contain PFAS.
The dollar amounts of these settlements are mind-blowing. They deny wrong doing, try to blame others, then make a settlement “deal.” I’m sure it IS a deal; I imagine their profits must be such that these settlement amounts are but a slap on the wrist.
It is my understanding that Aearo Technologies manufactured the ear plugs according to the government’s specifications. I also understand that they were manufactured before 3M purchased the company. This settlement represents about 15% of their gross receipts. In order to pay for this settlement 6,000 people lost their jobs and 3M will be laying off 6,000 more people in the coming months. None of those people had anything to do with the ear plugs and 3M did not make them. The plaintiffs waited until a company with deep pockets bought the company so they could cash in. Don’t assume that every large corporation is evil. 3M has a strong culture of integrity and environmental responsibility. They are no longer going to make PFAS. Fire departments will have to find something other than fire fighting foam to save your house. They are also not the only company that makes PFAS. BTW paper straws contain PFAS.
The dollar amounts of these settlements are mind-blowing. They deny wrong doing, try to blame others, then make a settlement “deal.” I’m sure it IS a deal; I imagine their profits must be such that these settlement amounts are but a slap on the wrist.