3M's Multibillion-Dollar Earplug Settlement Vote

3M's board of directors is set to vote on a multibillion-dollar settlement with U.S. military service members and veterans over 3M's earplugs, which are alleged to have caused hearing damage. The proposed settlement, worth $5.5 billion, follows 3M's failed attempt to move the lawsuits into bankruptcy court. Plaintiffs claim that 3M hid design flaws and failed to provide proper instructions, leading to hearing damage. 3M has lost 10 out of 16 earplug cases that have gone to trial, with $265 million awarded to plaintiffs. Aearo, acquired by 3M in 2008, filed for bankruptcy in July 2022, with 3M pledging $1 billion to cover its liabilities.