3M, a conglomerate, is sending $253 million in payments to over 30,000 U.S. military service members and veterans as part of a $6 billion settlement over earplugs that allegedly caused hearing loss. The company announced that the payouts will be distributed by the end of January, with recipients forfeiting future legal claims against 3M in return for the compensation.

The settlement stems from a legal battle lasting over five years, during which veterans claimed to have suffered hearing impairments and tinnitus after using the combat earplugs in close proximity to small arms, heavy artillery, and rockets. Bryan Aylstock, an attorney for the plaintiffs, expressed satisfaction with 3M’s decision to expedite the payment, commending the company’s commitment to resolving the claims.

It is anticipated that a significant number of the 276,000 claimants involved in the lawsuit against 3M may opt for the settlement instead of pursuing a trial. However, the specific amount that each individual claimant will receive remains undisclosed. 3M has not yet responded to requests for comment from CBS MoneyWatch.

As part of the settlement, 3M is set to disburse $5 billion in cash and $1 billion in 3M common stock to claimants between 2023 and 2029. Additionally, the company had already issued $250 million in payments to approximately 30,000 claimants in December. The resolution of this case marks a significant step in addressing the grievances of veterans and service members affected by the faulty earplugs.

Elizabeth Napolitano, a freelance reporter at CBS MoneyWatch, covers business and technology.