Scammers Target Military Veterans in 3M Earplug Settlement Identity Theft Scam

U.S. District Judge M. Casey Rodgers, overseeing the mass tort litigation involving 3M Company's MMM $6 billion settlement for military earplug-related hearing damage, has warned about an identity theft scam targeting claimants. 

Scammers are impersonating the settlement administrator, Archer Systems LLC, and soliciting full social security numbers and birth dates under the guise of verifying participation in the settlement. 

Rodgers emphasized that Archer would never request full social security numbers and urged victims of the scam to contact Archer or lead plaintiffs' attorney Bryan Aylstock.

Notably, the Federal Bureau of Investigation has been alerted to the fraudulent scheme, although there has been no immediate response from the FBI, Reuters noted.

Approximately 240,000 individuals are expected to qualify for the settlement, announced in August, with a provision allowing 3M to withdraw if less than 98% of eligible claimants opt-in. 

The settlement funds will be disbursed from 2023 to 2029, including $1 billion in 3M stock. 

The lawsuits revolve around Combat Arms earplugs manufactured by Aearo Technologies, a company 3M acquired in 2008. These earplugs were used by the U.S. military during training and combat from 2003 to 2015. 

Plaintiffs allege that the company concealed design defects, manipulated test results, and failed to provide proper usage instructions, resulting in hearing damage.

Price Action: MMM shares are up 0.40% at $90.30 on the last check Tuesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.