3M settles lawsuit

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The 3M Company has agreed to settle nearly 260,000 lawsuits from military service members that have suffered hearing loss due to the 3M Combat Arms earplugs. The case is set to be settled by paying out $6 billion over the span of next five years.

Due to the fact that the markets expected the settlement amounts to reach up to $10 billion, the news of a lower sum were the catalyst of a stock price surge. On Monday, the company's stock spiked 5.51% at the market open. On Tuesday, the pre-market session showed that the surge could continue on.

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