US states withdraw objections to 3M's $10.3 billion PFAS settlement

investing.com:

By Clark Mindock

(Reuters) — A group of 22 U.S. states and territories have dropped their bid to block a proposed $10.3 billion settlement between 3M and U.S. public water providers that have accused the company of polluting drinking water with toxic chemicals.

The states withdrew their objections late on Monday after negotiating changes with 3M and the water providers to the proposed deal, which would settle hundreds of lawsuits against the Minnesota-based company over perfluoroalkyl and polyfluoroalkyl substances, or PFAS, contamination.

3M, the water providers and the states said in a joint filing in federal court in South Carolina that the changes allow individual water providers to obtain estimates on their expected payout before agreeing to the deal, give providers more time to decide whether to opt out of the deal and clarify that states can still pursue separate lawsuits over PFAS contamination.

The settlement must still be approved by U.S. District Judge Richard Gergel in Charleston, South Carolina, who is overseeing the litigation.

New York Attorney General Letitia James, whose office originally objected to the deal, said in a statement on Tuesday that the «new agreement will ensure 3M is held accountable.»

Scott Summy, an attorney for the water providers, said they are pleased that the states have withdrawn their objections after weeks of collaborative negotiations between the parties.

3M did not immediately respond to requests for comment.

The states had objected in July, saying the deal did not adequately account for the damage caused by PFAS and did not give water providers enough information to understand whether the settlement was suitable or not.

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