Newest Updates on 3M Settlement Payouts with Expert Mike Burns

The legal industry has been buzzing about the monumental 3M earplugs settlement. So, now’s the perfect time for another update from expert Mike Burns! This episode highlights the nuances of such mass tort settlements, shedding light on how they differ from regular case settlements and what it means for the plaintiffs involved.

Joining us today is Mike Burns, an expert in mass tort litigation, who is deeply involved in the 3M earplugs settlement case. Mike has made numerous appearances on our show, providing vital insights into complex legal topics. Today, he’s here to break down the intricate details of the 3M settlement process, including what clients need to know.

Did you know? By April 2025, over $3.1 billion is projected to be paid out to the 3M plaintiffs, marking one of the most significant payouts in recent mass tort history! Mike has more details like this up his sleeve, so tune in to learn more!

Dive into the specifics of settlement timelines, payment categories, and the role of special masters in the allocation process. Learn how top law firms navigate these settlements and manage client expectations.

 

What to expect in this episode:

• Initial settlement process and current status

• Detailed timeline of payment distributions

• Explanation of expedited and deferred payment options

• The role and categorization of the Extraordinary Injury Fund (EIF)

• Importance of documentation and medical records in claim validation

• Timeline for future payments and what clients need to know

• Speculative discussion on potential changes in university football coaching

 

Key Actionable Takeaways for Law Firms:

• Track Key Dates: Stay vigilant on critical payment schedule dates: October 15, 2024, January 15, 2025, and April 15, 2025, to manage client expectations accurately.

• Client Communication: Proactively reach out to clients. Ensure they are aware of their payment status and any additional steps required, particularly for those in the deferred or EIF categories.

• Leverage Technology: Utilize platforms like Brown Greer to stay updated on payment allocations and the special master’s decisions, ensuring no crucial details are missed.

• Prepare for Liens and Bankruptcy Issues: Make sure all lien reports and bankruptcy matters are handled swiftly to avoid delays in client payments.

• Educate Clients on Tax Implications: Inform clients that personal injury settlements are typically non-taxable, providing them with peace of mind regarding their received funds.

 

Stay up-to-date on the 3M earplug litigation by listening to Cut to The Chase: Podcast with Gregg Goldfarb!

Subscribe, rate, review, and share this episode of the Cut to the Chase: Podcast to stay ahead in your legal practice!

 

Resources:

• 3M Ear Plug Lawsuit Update Tracker: https://www.mostynlaw.com/3m-earplug-lawsuit-update
• Mostyn Law: https://www.mostynlaw.com

 

This episode was produced and brought to you by Reignite Media.