Under the proposed settlement, which must be approved by a federal court, 3M would pay to remediate public water systems that have tested positive for so-called forever chemicals, polyfluoroalkyl substances (PFAS), according to a 3M securities filing.
In exchange for payments of between $10.5 billion and $12.5 billion, plaintiffs in the class action litigation would agree to release 3M from claims over PFAS and any punitive damage awards, 3M said.
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