3M Company (NYSE:MMM), which has been grappling with lawsuits for a considerable period, seems to be inching closer to a resolution.

Around two months ago, the company tentatively settled a water pollution lawsuit by agreeing to pay a $10.3 billion settlement. This week, another significant development emerged in the earplug case.

In the latest update, 3M has agreed to pay $6.01 billion in damages as part of a class-action lawsuit involving hundreds of thousands of US soldiers who allege they suffered hearing loss from using earplugs made by the company.

Source: Investing.com