3M rises on positive DoD data related to earplug litigation By Investing.com

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3M rises on positive DoD data related to earplug litigation

Published Mar 01, 2023 08:32

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3M rises on positive DoD data related to earplug litigation

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By Senad Karaahmetovic

3M (NYSE:MMM) shares are moving higher in pre-market Wednesday after the company cited the U.S. Department of Defense (DoD) records that show a "vast majority" of claimants experienced no hearing loss in Combat Arms earplug litigation.

"Comprehensive analysis of U.S. Department of Defense audiometric data for plaintiffs who filed claims in the MDL showed that the vast majority of claimants did not have hearing loss according to standards from leading medical and health organizations, including the American Medical Association (AMA) and World Health Organizations (WHO)," the company said in the statement.

Under AMA standards, nearly 90% of plaintiffs have no hearing impairment. Under WHO and National Institute of Health standards, over 85% of plaintiffs have normal hearing, the company said.

3M added it remains committed to "reach a reasonable resolution," based on scientific evidence.

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