Manufacturing conglomerate 3M Co. faces uncertainty over its proposed $6 billion settlement relating to accusations that the company sold defective combat earplugs to the US military.
This proposed figure could falter if substantial numbers of veterans refuse the deal. They allege that the figure is insufficient compensation for the life-altering injuries they sustain as a result of the flawed earplugs, which failed to adequately shield them from the blare of heavy artillery and tanks.
Considering there are an estimated 250,000 active claims of hearing loss which 3M has flagged, the suggested settlement equates to approximately $24,000 per claim. However, after court costs and legal expenses, the final sum is likely to be reduced.
Previously, injured ex-service members won $265 million in initial trials. Thus the offer from 3M may not seem sufficient given the serious effects of hearing loss.
This situation places 3M in a precarious situation, as the viability of the $6 billion settlement largely depends upon the perspective of the veterans and their determination to seek appropriate compensation for their hearing loss.
For more detailed coverage, read the full article from Bloomberg Law
here.