3M Pays $10.3B To Settle PFAS Related Lawsuit
Portfolio Pulse from Lekha Gupta
3M Co has settled a PFAS-related lawsuit for $10.3 billion, payable over 13 years, with several U.S.-based public water suppliers. The agreement resolves current and future drinking water claims and includes funding for testing PFAS and detection in the future. The company expects to record a pre-tax charge of $10.3 billion in Q2 2023.
June 23, 2023 | 9:22 am
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3M settles a PFAS-related lawsuit for $10.3 billion, payable over 13 years, with U.S. public water suppliers. The company expects to record a pre-tax charge of $10.3 billion in Q2 2023.
The settlement resolves current and future drinking water claims, which is a positive step for 3M. However, the company will record a pre-tax charge of $10.3 billion in Q2 2023, which may negatively impact its financials. The overall short-term impact on the stock price is expected to be neutral.
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