3M, State Of Minnesota Settle Lawsuit; To Record Charge In Q1

(RTTNews) - 3M (MMM) announced the company and the State of Minnesota reached a resolution of the State's lawsuit against 3M related to certain PFCs present in the environment. Under the terms of the settlement, 3M and the State will partner to invest in the environment and community. 3M will provide an $850 million grant to the State. This Fund will enable projects that support water sustainability in the Twin Cities East Metro region.

As a result of the settlement, the company will record a first-quarter charge of approximately $1.10 to $1.15 per share inclusive of related legal fees.