3M faces more legal headaches after $6 billion earplug settlement
Publishing timestamp: 2023-08-29 15:44:07
Summary
3M is close to ending the largest mass tort litigation in U.S. history with a $6.01 billion settlement, but still faces other legal challenges. The company is awaiting approval for a $10.3 billion settlement over "forever chemicals" and is facing pushback from states. 3M's total liability risk is estimated to be nearly $30 billion. The company has cut costs and eliminated jobs to fund settlements, and plans to spin off its healthcare business. There is debate about the sustainability of 3M's dividend, and the stock has underperformed in recent years.
Sentiment: MIXED
Keywords: business, business news, industrial select sector spdr fund, laws, lawsuits, 3m co,
Source: https://www.cnbc.com/2023/08/29/3m-faces-more-legal-headaches-after-earplug-settlement.html