Update: Market Chatter: 3M Company to Challenge Australia's $1.4 Billion PFAS Contamination Lawsuit

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(Updates to add 3M's comment in sixth paragraph.)

3M (MMM) plans to challenge the legal basis of Australia's lawsuit seeking more than A$2 billion ($1.38 billion) in damages over contamination linked to the company's firefighting foam, Reuters reported Friday, citing a court hearing.

Australia is seeking compensation for past and future cleanup costs at 28 military bases where 3M's products were used, Reuters said, adding that the government alleges the company knew or should have known the foam could harm people and the environment but failed to issue adequate warnings.

3M's lawyer argued that the allegations do not meet the legal requirements for a public nuisance claim, according to the report.

It added that the company also plans to challenge whether Australia's claims over alleged misleading statements about the foam's safety are time-barred because the conduct occurred decades ago.

The case is scheduled to return to court in December.

3M said it never manufactured PFAS in Australia and stopped selling the products at issue about two decades ago, but the Department of Defence continued to use it.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

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