By Patrick Kennedy
Star Tribune
MAPLEWOOD, Minn. — 3M has agreed to make payments worth $7.35 billion across nine years to settle more than 100,000 personal injury claims over the use of its PFAS-based fire-fighting foam.
It’s the second major 3M settlement in lawsuits involving firefighting foams known as aqueous film-forming foam. The foam contains perfluoroalkyl and polyfluoroalkyl substances, or PFAS, which do not biodegrade and have been linked to cancer and liver damage.
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The two sets of settlements together would be worth nearly $20 billion.
The Maplewood-based company is not admitting wrongdoing as part of the settlements, and stands ready to fight the cases in court if settlement terms are not fulfilled.
3M announced the settlement on its webpage after markets closed on election night. Its stock rose less than 2% in after-hours trading.
In June 2023, 3M settled a different set of PFAS lawsuits in the same South Carolina federal court over drinking water contamination involving cities, municipalities and water districts. That was for as much as $12.5 billion paid over a dozen years.
The settlement announced Tuesday covers up to 120,000 eligible plaintiffs, including firefighters and military personnel who used the foams to fight fires or, more often, in firefighting training exercises.
“This settlement is a significant milestone for 3M and substantially reduces litigation uncertainty,” CEO Bill Brown said in a news release. “This is another important step in managing legacy PFAS matters.”
3M will account for the settlement with a pretax charge of $5.8 billion in the fourth quarter of 2026. Executives have scheduled a conference call with investors on Wednesday morning.
One firm representing plaintiffs, South Carolina’s Motley Rice, celebrated the settlement announcement Tuesday night.
A statement from the firm called it “a favorable result for victims who are in urgent need of support to cover the mounting medical bills and other costs frequently associated with toxic PFAS exposure.”
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