3M settles with two insurers over breast implants

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After many, many years! . . . Rogene

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3M settles with two insurers over breast implants

Tue May 2, 2006 5:58 PM ET

By Ben Klayman

CHICAGO, May 2 (Reuters) - Diversified manufacturer 3M

Co. received more than $17 million from two of its

insurers as part of a settlement involving breast

implant lawsuits, the diversified manufacturer said on

Tuesday.

The company, known for such consumer products as

Scotch tape and Post-It notes, reached agreements with

the unidentified insurers, receiving $8.6 million in

March and an additional $8.6 million in April,

according to documents filed with the U.S. Securities

and Exchange Commission.

3M, which sold breast implants from 1977 to 1984, also

received in the first quarter additional payments

under previously disclosed settlement agreements of

about $17.6 million, according to the filing.

While most claims by women alleging injuries due to

leaking silicone-gel breast implants were settled

years ago, the insurers' payments stem from a 2003

Minnesota Supreme Court ruling that 29 insurance

companies must reimburse 3M for settlement costs.

Nineteen of the 29 insurers have now settled with the

company, 3M said in the filing. At the time of the

state court's ruling, the company said it expected to

collect $250 million from the 29 insurers.