So we have finally arrived!
One of the biggest problems that has weighed on $MMM+0.0% stock is finally over. 3M has finally agreed to pay $6.01 billion to settle nearly 260,000 lawsuits by current and former U.S. military service members who claim they suffered hearing loss while using the company's earplugs.
The money will be paid mostly over the next five years, said a person familiar with the deal. Some analysts' estimates of the company's potential liability from the earplug lawsuit were as high as $10 billion, so this is very positive news.