U.S. judge grants delay in 3M, Florida city trial

STORY: Industrial conglomerate 3M is trying to contain the potential financial damage from its production of so-called “forever chemicals”.

A court filing on Monday showed a U.S. judge allowed the delay of a trial in which Florida’s Stuart City sued the company over water contamination from the chemicals also known as PFAS which 3M has known for decades can cause cancer and other ailments. The two sides told the court they are close to an agreement. Stuart City claimed 3M made or sold firefighting foams containing PFAS that polluted local soil and groundwater and sought more than $100 million for filtration and remediation.

The lawsuit was set to be a test case as it is one of the more than 4,000 filed against 3M and other chemical companies by U.S. municipalities, state governments and individuals.

The request for a delay came after three other companies said last week they had reached an agreement in principle for nearly $1.2 billion to settle claims that they contaminated U.S. public water systems with PFAS.

3M announced in December that it would stop producing PFAS by 2025.

Bloomberg News reported Friday that 3M had struck a tentative $10 billion deal with U.S. cities and towns to resolve the PFAS water pollution lawsuits it is facing. Reuters could not immediately confirm that report.

The stock jumped nearly 9-percent Friday and is down 3-percent in late Monday morning trading.