3M to Pay $10.3 Billion to Settle ‘Forever Chemicals’ Drinking Water Lawsuits

3M to Pay $10.3 Billion to Settle , ‘Forever Chemicals’ Drinking Water Lawsuits.

The company made the announcement on June 22, CNN reports.

3M has been accused of contaminating American water supplies with "forever chemicals" known as polyfluoroalkyl and perfluoroalkyl substances (PFAS).

However, 3M, which manufactures Post-Its, Scotch Tape and other products, said its attempt to settle isn't an admission of liability.

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However, 3M, which manufactures Post-Its, Scotch Tape and other products, said its attempt to settle isn't an admission of liability.

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However, 3M, which manufactures Post-Its, Scotch Tape and other products, said its attempt to settle isn't an admission of liability.

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This is an important step forward for 3M, which builds on our actions that include our announced exit of PFOA and PFOS manufacturing more than 20 years ago, , Mike Roman, 3M chairman and CEO, via statement.

... our more recent investments in state-of-the-art water filtration technology in our chemical manufacturing operations, , Mike Roman, 3M chairman and CEO, via statement.

... and our announcement that we will exit all PFAS manufacturing by the end of 2025, Mike Roman, 3M chairman and CEO, via statement.

Chemours, DuPont and Corteva also recently announced settlements of over $1 billion in similar cases.

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3M's proposed settlement must first be approved by a court.

If it is not, the company says it is prepared to continue defending itself.

After announcing its intention to settle, 3M's stock rose over 5% after hours