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3M COMPANY

(MMM)
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3M Loses First Trial Over Military Earplugs -- Update

04/30/2021 | 03:26pm EDT

By Sara Randazzo

3M Co. lost the first lawsuit to go to trial over the safety of earplugs it sold for years to the military, with a Florida federal jury Friday awarding $7.1 million to three veterans and finding the company failed to warn about defects in the product.

More than 230,000 service members, veterans and others have filed claims blaming 3M earplugs for causing hearing loss. The distinct yellow-and-green plugs, used widely by the U.S. Army and other branches, were designed with one side intended to fully block noise and the other to let in nearby voices while shielding the ear from harmful ballistic noises.

Minnesota-based 3M has stood by the safety of the earplugs, which it stopped selling in 2015. A company spokeswoman said Friday they disagree with the verdict and don't believe plaintiffs met the burden of proving the "product was defectively or negligently designed" or caused the veterans' purported injuries. The company, she said, will evaluate "multiple grounds for appeal."

Write to Sara Randazzo at sara.randazzo@wsj.com

(END) Dow Jones Newswires

04-30-21 1525ET

Stocks mentioned in the article
ChangeLast1st jan.
3M COMPANY 0.48% 204.38 Delayed Quote.16.93%
DJ INDUSTRIAL 1.06% 34382.13 Delayed Quote.11.16%
YRC WORLDWIDE INC. 3.59% 6.34 Delayed Quote.43.12%
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Financials (USD)
Sales 2021 34 825 M - -
Net income 2021 5 705 M - -
Net Debt 2021 12 834 M - -
P/E ratio 2021 20,9x
Yield 2021 2,90%
Capitalization 118 B 118 B -
EV / Sales 2021 3,77x
EV / Sales 2022 3,59x
Nbr of Employees 95 000
Free-Float 61,3%
Chart 3M COMPANY
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Technical analysis trends 3M COMPANY
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 202,06 $
Last Close Price 204,38 $
Spread / Highest target 14,5%
Spread / Average Target -1,14%
Spread / Lowest Target -11,4%
EPS Revisions
Managers and Directors
NameTitle
Michael F. Roman Chairman, President & Chief Executive Officer
Monish Patolawala Chief Financial Officer & Executive Vice President
John Patrick Banovetz CTO & EVP-Environmental Responsibility
Veena M. Lakkundi Senior VP-Strategy & Business Development
Michael A. Duran Vice President, Chief Ethics & Compliance Officer
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