3M Faces $100 Billion in Losses From Veterans' Earplug Suits, Expert Says
- Adviser hired by lawyer suing 3M says company faces bankruptcy
- Plaintiff lawyers seek to restrict 3M payouts like dividend
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3M Co. faces more than $100 billion in losses and bankruptcy because of lawsuits brought by veterans who blame their hearing problems on faulty earplugs, according to a litigation consultant hired by lawyers suing the industrial conglomerate.
Initial results from a handful of test cases shows 3M would be swamped by losses should the more than 230,000 lawsuits related to the company’s military earplugs business go forward, the plaintiff’s adviser J.B. Heaton testified in bankruptcy court Tuesday.