https://investors.3m.com/news/news-details/2023/Department-of-Defense-Data-Reveals-No-Hearing-Loss-Among-Vast-Majority-of-Plaintiffs-in-Combat-Arms-Earplug-Litigation/default.aspx
8 replies (most recent on top)
Whatever the analysis, there is good likelihood of a materiel judgment. Arguably that is already priced into the stock. Playing a spread vs “truer” picture of liability is a slippery slope with highly uncertain. Investor returns
Of course Aylstock would say that, but then again so would the judge, because her daughter works for Aylstock! I wonder why this seems to be going so well for them?
I think Abe is closer to right than he is to wrong. In court they will argue the percentage of people with injury and the damage amounts, but it looks like neither one is zero.
It looks like the data is showing that a small, but significant subset of the plaintiffs may have a real case. It definitely isn't 200,000 people with valid claims, but it also definitely isn't zero.
No Abe, what this means is we can start the process of deflating this farcical lawsuit and move on to more important matters.
Does this mean that 10% of the 175,000 (17,500) claimants have hearing loss?
Average payout in bellweather trials was $21.1M -> 17,500 * $21,100,000 = $369,250,000,000.
Let's say each claimant gets $1M -> 17,500 * $1,000,000 = $17,500,000,000 = $17.5B.
Bryan Aylstock and Chris Seeger, co-lead counsels for the plaintiffs, who are service members and veterans, said in an emailed statement to MarketWatch on Wednesday that 3M’s announcement was another attempt by the company to mislead the public. They said the DOD data in fact show that about 85% of the plaintiffs suffer from hearing loss or tinnitus.
I wouldn’t get too excited, there is conflicting information on the data. The majority of veterans could very well have hearing loss as a result of the defective ear protection.
I posted up the same outcome several months ago, a lot ex troops chancing their arm and why not,,they should get a bonus for serving their country,,just do not be greedy and want millions for fake hearing loss,if you are detrimentally affected then by all means take it further, you yanks love the claim where there is blame culture , 3m has a few billion when spinco steals off wall street in october