3M’s PFAS Settlement

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