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00:023M has agreed to settle long-running litigation brought by thousands of people who claim they
00:08were harmed by PFAS, known as forever chemicals, according to the Wall Street Journal.
00:13The materials maker will pay $7.35 billion over nine years to settle personal injury
00:20claims involving firefighting foam containing PFAS. As many as 120,000 plaintiffs could
00:27participate in the agreement, the latest in a series of settlements related to the chemicals.
00:32Lawsuits claimed the chemicals contaminated drinking water and caused health problems.
00:37Diseases covered by the settlement include several types of cancer,
00:41according to plaintiff's co-lead counsel, Michael London. 3M will record a $5.8 billion pre-tax
00:48charge in the fourth quarter of 2026, representing the settlement's present value. PFAS are called
00:54forever chemicals because they don't break down in the environment. 3M said it discontinued
01:00all PFAS manufacturing last year. For all things money, visit Benzinga.com.
