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3M Settles Claims Over Tennessee River Contamination

By John F. Heerdink, Jr.

Reportedly, 3M (MMM) has agreed to pay about $98.4 million to settle claims that it contaminated the Tennessee River with toxic chemicals. The company agreed to resolve the lawsuit by environmental group Tennessee Riverkeeper, a separate class action by residents of Alabama’s Morgan County. , and also negotiated a private settlement.

All three agreements involve 3M’s manufacturing and disposal of polyfluoroalkyl and perfluoroalkyl substances, or also known as PFAS, at its Decatur industrial site in Morgan County. PFAS is also known as”forever chemicals” because they do not break down easily, and for decades have been used in household products such as non-stick cookware. Also, Scientists have associated the illnesses such as kidney cancer, with PFAS.

The agreements are subject to final approval. The company did not admit wrongdoing.

 
3M (MMM) is a global science company that seems to never stop inventing. Using 46 technology platforms, their integrated team of scientists and researchers works with customers to create breakthroughs. Their inventions have improved daily life for hundreds of millions of people all over the world. With $30 billion in sales, 90,000 employees connect with customers all around the world. Scientists, researchers, and marketers work across countries and across subjects to solve challenges big and small. To learn more about 3M (MMM) and to track its ongoing progress please visit the  Vista Partners 3M (MMM), Coverage Page.



Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. 

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(Read Original Story: 3M agrees to pay $98 mln to resolve suits over 'forever' chemicals in Reuters)


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