3M agrees to pay £4.7 billion to settle earplug lawsuits from US service members

3M has agreed to pay six billion dollars to settle numerous lawsuits from US service members who say faulty earplugs made by the company caused hearing loss (Richard Drew/AP/PA)

Chemical and consumer product manufacturer 3M has agreed to pay six billion dollars (£4.76 billion) to settle numerous lawsuits from US service members who say they experienced hearing loss or other serious injuries after using faulty earplugs made by the company.

The settlement, consisting of five billion dollars (£3.97 billion) in cash and one billion dollars (£0.79 billion) in 3M stock, will be made in payments that will run through to 2029.