3M shares rally after close following public water systems settlement
22/06/2023 22:33
** Shares in 3M co MMM.N up 4% at $104.50 in extended trade
after the diversified manufacturer announced it reached a $10.3
bln settlement with a host of U.S. public water systems to
resolve water pollution claims tied to "forever chemicals"
** MMM, which is facing thousands of lawsuits over PFAS
contamination, said settlement to provide funds over a 13-years
to cities, towns and other public water systems to test, treat
contamination of per- and polyfluoroalkyl substances, or PFAS
** Co did not admit liability, had been scheduled to face
test trial in South Carolina federal court earlier this month in
lawsuit brought by Stuart, Florida but the judge delayed the
trial the morning it was set to start
** MMM shares down 16.3% YTD at market close on Thursday
(Reporting By Sinéad Carew)
((sinead.carew@thomsonreuters.com; +13322191897;))