3M (MMM) announced it will pay up to $12.5 billion in forever chemicals litigation. To resolve legal claims relating to its firefighting foam containing PFAS compounds, or “forever chemicals,” 3M agreed to pay between $10.5 billion and $12.5 billion.
“The tentative national class-action settlement in a landmark environmental fight involving PFAS chemicals in firefighting foam was reached Thursday. 3M will pay between $10.5 billion and $12.5 billion, and the settlement will cover public water systems across the U.S., plaintiffs’ attorneys said in a statement.
Giant chemical companies have agreed to pay billions of dollars to settle legal claims that common products like non-stick frying pans and waterproof clothes contain dangerous “forever” compounds that might cause contamination.
In addition to other problems, polyfluoroalkyl substances (PFAS), which take a very long time to decompose in nature, have been related to cancer, infertility, and environmental harm.
The agreement is the biggest involving drinking water in US history and must be approved by a judge.
It focuses on 3M’s use of PFAS-containing firefighting foams, which are blamed for contaminating groundwater.
3M, which also makes COVID face masks and post-it notes, announced in December that it would stop producing PFAS chemicals by the end of 2025.
US industrial firm 3M announced on Thursday that it will resolve multiple allegations from US public water utilities that it had contaminated their sources with the contaminants by paying up to $12.5 billion.
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