Financial impact reflected in prior reserves, positions company to move forward
Parties in the Zimmerman et al lawsuit, a putative class action in Grand Rapids, Mich., have reached an agreement to resolve the litigation. The agreement resolves claims on behalf of the proposed classes without the need for further lengthy and expensive litigation. The agreement remains subject to court approval.
Through the agreement, if approved, 3M and its co-defendant will collectively contribute a fixed total amount of $54 million to resolve the plaintiffs’ claims on behalf of themselves and the proposed classes. Individual contributions among the parties will remain confidential under the agreement. 3M’s contribution to the total amount is reflected in the company’s prior financial reserves for litigation.
3M remains committed to working collaboratively with communities and sharing our scientific knowledge on PFAS to achieve our common goals.