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3M announced a settlement with up to 120,000 plaintiffs for 7.35 billion yuan over health injury lawsuits caused by PFAS-containing AFFF firefighting foam, and will pay compensation within nine years.
3M, one of the largest manufacturers in the United States, is facing lawsuits because its products contain persistent chemicals that can cause cancer and other health hazards in the human body. The company announced on the 3rd that it had reached a settlement in the long-running class action lawsuit and agreed to pay 7.35 billion yuan as compensation to the plaintiffs.
according toYahoo According to the financial website (Yahoo Finance), the 3M product that is the cause of the lawsuit this time is AFFF firefighting foam, which contains the persistent chemical PFAS. It is a synthetic compound used in heat-resistant, anti-dirt, oil-proof, and waterproof products, and it is linked to liver damage, low birth weight, etc.vaccine Low antibody response is linked to kidney and testicular cancer.
Under the settlement agreement, 3M will pay settlements within nine years to plaintiffs who claim they suffered personal injuries related to PFAS firefighting foam. 3M said the number of plaintiffs included in the settlement could be as high as 120,000.
This settlement is the latest in a series of recent PFAS-related settlements.
To pay for the disposal, 3M plans to set aside pre-tax expenses of 5.8 billion yuan in the fourth quarter of 2026, which is equivalent to the current value of the disposal.
Bill Brown, CEO of 3M, said this settlement agreement is an important milestone for 3M and significantly reduces the uncertainty of the litigation.
Michael London, co-lead counsel representing the plaintiffs, said the diseases covered by the settlement cover a wide variety of diseases.cancer The plaintiffs believe this is a very good outcome that will allow thousands of victims exposed to persistent PFAS chemicals to recover damages.
3M held an investor conference call on the morning of the 4th to discuss settlement-related matters.
3M began commercializing PFAS decades ago to take advantage of the chemical’s heat-resistant and anti-fouling properties. Because PFAS cannot decompose in the environment, they are called “forever chemicals.”
Some non-stick cookware and waterproof clothing currently available on the market contain PFAS, and the firefighting foam used by firefighters to extinguish aviation fuel fires is the focus of 3M’s lawsuit involving human health injuries; The lawsuit claims that these harmful chemicals in firefighting foam contaminate drinking water and cause health problems.
3M said it began phasing out the compounds involved in the lawsuit in 2000 and stopped producing all PFAS-related products last year.
Summary FAQ
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The focus of the lawsuit is 3M’s AFFF firefighting foam, which is alleged to contain persistent chemicals called PFAS, which can contaminate drinking water and cause cancer and other health problems.
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3M agreed to pay 7.35 billion yuan in compensation. The relevant settlement agreement is expected to cover up to 120,000 plaintiffs and will be paid in installments over 9 years, reducing the uncertainty of long-term litigation.
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PFAS are called persistent chemicals because they do not easily decompose in the environment. They are commonly found in heat-resistant, anti-fouling, oil-proof, and waterproof products. There are concerns that they are linked to health risks such as liver damage and cancer.
