Why 3M Shares Are Trading Higher Today

3M MMM shares are trading higher on Wednesday after records from the Department of Defense showed the majority of claimants in the Combat Arms earplug litigation do not have heading loss under medically accepted standards.

The analysis does not account for other causes of hearing loss that may have impacted the small percentage of servicemembers with hearing loss, including medical conditions unrelated to noise exposure, non-military noise exposure, hearing loss that predates a service member's use of Combat Arms earplugs, and injuries suffered while not wearing Combat Arms earplugs. Every independent, third-party organization that has tested the product has found it to be safe and effective to use.

Charles Mullin of Bates White, an expert claims valuation firm, stated that a substantial majority of MDL plaintiffs have normal hearing or no binaural hearing impairment under the World Health Organization and American Medical Association standards. The parties remain focused on reaching an efficient, equitable, and expeditious resolution to this litigation, based on data and scientific evidence, that does right by veterans entitled to compensation and puts an end to this litigation. Oral arguments for the appeals of the initial bellwether trials are scheduled for May 1, 2023.

3M is an American multinational conglomerate operating in the fields of industry, worker safety, U.S. health care, and consumer goods.

MMM Price Action: 3M has a 52-week high of $154.66 and a 52-week low of $106.76.

3M shares are up 3.2% at $85.24 at the time of publication, according to Benzinga Pro.