McCune Wright Arevalo, LLP, Holding Press Conference on August 1, 2022, at 11:00 a.m. PST in Response to Impacts of 3M-Owned Aearo’s Bankruptcy on Ongoing Lawsuits
McCune Wright Arevalo, LLP, will hold a press conference at One Lakeshore Center, 3281 E. Guasti Rd., Suite 100, Ontario, California at 11:00 a.m. on August 1, 2022. MWA Partner Michele Vercoski will discuss how a bankruptcy filing by Aearo – a wholly owned subsidiary of 3M — will impact service members already in the middle of lawsuits against 3M. Joining Michele, MWA Partner and retired Marine Corps Major Cory Weck will discuss the impact of the defective earplugs and 3M’s obligation to the more than 200,000 harmed service members across the country. Finally, two veterans will also join the press conference to give a veteran’s perspective of how the defective earplugs and potential delay in justice have affected them. The main goal of the press conference is to offer context from the perspective of the affected service members. It will be livestreamed at 11:00 a.m. PST via YouTube and Facebook.
3M’s Defective Earplugs
Aearo, which is a subsidiary of 3M, provided ear protection known as the CAev2 to military service members from 2003 to 2015. The earplug was marketed as a protection for service members working near loud noises produced by various machines or exercises. MWA lawsuits allege the earplugs later proved to be defective as complaints of tinnitus and hearing loss became more common. Despite the company’s knowledge of the defective earplug, 3M sold them to service members serving in Iraq and Afghanistan war zones. 3M is now trying to delay cases against them regarding the earplugs by moving these claims to bankruptcy court, causing the cases brought against them to be delayed three to four years. Our clients and, indeed, all service members nationwide who have been affected by these defective earplugs deserve better from 3M than this attempted delay in justice.
3M’s Healthy Financial State Despite Bankruptcy Claims
Even though Aearo has filed for bankruptcy, their parent company 3M is making unprecedented financial earnings. In fact, their earnings report shows that 3M is making significant profits both for the company and its executives. 3M has reported a net income of $1.3 billion in just the first quarter of the 2022 year, as well as a $5.9 billion net income for the prior 2021 year. Moreover, 3M CEO Michael Roman was paid over $56 million in the past three years. 3M has paid shareholders of the company $14 billion in the past three years. With these staggering numbers alone, MWA questions why and how their wholly owned subsidiary, Aearo could possibly be in dire financial straits, unless it acts as a smokescreen to prevent lawsuits from going to trial.
MWA Shining Light Against Shady Practices
These lawsuits show that despite 3M allegedly knowing the earplugs defects were present, they sold them anyway. MWA believes that 3M cannot and should not escape accountability for their actions. Our attorneys have the utmost respect for our service members and find it unconscionable that multi-billion-dollar companies like 3M would leave them behind.