3M agrees to pay up to $7.35 billion to settle PFAS personal injury claims over firefighting foam

The company said the deal covers about 99% of current personal injury claims tied to the litigation in federal court in South Carolina, involving roughly 115,000 to 120,000 eligible plaintiffs. It includes a $50 million payment in 2026 and no payments in 2027, according to 3M. The plaintiffs say they were sickened by contamination from the compounds, AP reported.

3M said the agreement is not an admission of liability and that it will record a $5.8 billion pre-tax charge in the fourth quarter. CEO William Brown called the deal "a significant milestone."

Why it matters: The settlement is meant to resolve most of the personal injury claims 3M faces over the chemicals, and it follows the company's 2023 settlement with U.S. public water suppliers.