3M Company (MMM)

[DewDiligence]

3M hit by $110M verdict in earplug case:

https://finance.yahoo.com/news/1-3m-hit-110-million-001551502.html

A federal jury on Thursday awarded $110 million [i.e. $55M each] to two U.S. Army veterans who said combat earplugs sold by 3M Co to the military caused them to suffer hearing damage, the largest verdict yet to result from hundreds of thousands of lawsuits over the product.

The two men are among the nearly 300,000 service members and others who have sued 3M claiming they suffered hearing damage as a result of using the earplugs in what has become the largest federal mass tort litigation in U.S. history.

…3M in a statement said it was disappointed and would appeal. It noted it won the last two trials involving the earplugs and said its conduct was consistent with its "long-time commitment to keeping our U.S. military safe."

…The trial was the 11th so far to reach a verdict. Plaintiffs in six trials, including Thursday's, have won more than $160 million combined. Juries sided with 3M in the five others. Five more trials are scheduled this year.