Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

3M Faces $100 Billion in Losses from Lawsuits, Expert Says (1)

Aug. 16, 2022, 4:28 PM

3M Co. faces more than $100 billion in losses and bankruptcy because of lawsuits brought by veterans who blame their hearing problems on faulty earplugs, according to a litigation consultant hired by lawyers suing the industrial conglomerate.

Initial results from a handful of test cases shows 3M would be swamped by losses should the more than 230,000 lawsuits related to the company’s military earplugs business go forward, the plaintiff’s adviser J.B. Heaton testified in bankruptcy court Tuesday.

“It is more and more likely within the next several years we’ll see a 3M bankruptcy, yes,” Heaton told US Bankruptcy Judge Jeffrey ...