“Considering that juries have ruled in favor of 13 out of 19 servicemembers whose cases went to trial and awarded nearly $300 million in damages, the trust to resolve earplug litigation claims is woefully underfunded and not the ‘efficient and equitable resolution’ that 3M is desperately pretending it is. In the case resolved Friday in Pensacola, attorneys for Joseph Palanki argued that the soldier used the 3M dual-ended earplugs throughout his service, but the design was flawed, allowing for. “3M’s bankruptcy maneuver is further proof that they value their profits and stock price more than the well-being of veterans who fought and served our country,” said Bryan Aylstock of Aylstock Witkin Kreis & Overholtz, PLLC, in a statement Tuesday. The lead plaintiffs’ counsel in the earplugs litigation has slammed the level of funding proposed by 3M. The company’s move came amid thousands of claims linking talc-based products to cancer. ![]() Last year, for example, a Johnson & JohnsonĬorporate affiliate holding talc-related liabilities filed for chapter 11 protection. See Now: 3M’s attempt to resolve earplug litigation ‘woefully underfunded’ says lead plaintiffs’ counselģM is not the first company to pursue this type of strategy, according to Tobias. The subsidiaries have initiated chapter 11 proceedings seeking court supervision to help establish the 3M funded trust to “efficiently and equitably resolve all claims determined to be entitled to compensation,” the industrial company said. On Tuesday 3M announced that its Aearo Technologies subsidiary and related entities have voluntarily filed for bankruptcy, a move designed to resolve litigation related to the earplugs. “All that has to go into the calculus – it does seem like they will go through $1 billion very quickly.” “The math seems to suggest that $1 billion isn’t enough,” Tobias said. The company says it is facing increasing litigation over the earplugs, including approximately 115,000 filed claims and an additional 120,000 claims on an administrative docket as of June 30, 2022. ![]() See Now: 3M subsidiary Aearo Technologies files for bankruptcy as it looks to resolve Combat Arms Earplugs litigation Military service members have blamed the earplugs for causing problems such as hearing loss and tinnitus by inadequately blocking noise from the likes of aircraft and artillery. Is facing claims related to its discontinued Combat Arms Earplugs version 2, which it sold to the U.S.
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