On or around 12/09/2020 (Date of last review)
Filing Date: July 29, 2019
According to the Complaint, 3M is an American multinational conglomerate corporation that produces a variety of chemical substances and related products.
The Complaint alleges that during the Class Period, Defendants made materially false and misleading statements and/or failed to disclose adverse information regarding 3M’s business and operations. Specifically, the Complaint alleges Defendants failed to disclose the extent of the Company’s exposure to legal liability associated with 3M’s most lucrative product offerings: man-made chemicals known as per- and polyfluoroalkyl substances (“PFAS”). While publicly denying that PFAS cause harm to humans and the environment, the Complaint alleges Defendants concealed and misrepresented: (i) 3M’s vast internal evidence dating back decades confirming that PFAS are toxic (which was first publicly revealed in February 2018 by Minnesota’s Attorney General); (ii) 3M’s decades-long history of suppressing negative information and/or damaging data about PFAS; and (iii) 3M’s legal exposure to state, county, and local governments and individuals around the country as a result of its knowledge and intentional concealment of the toxic harm caused by the use of PFAS.
On October 21, 2019, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on December 19. On December 3, 2020, the Court issued an Order transferring the case to the District of Minnesota.
Company & Securities Information
Defendant: 3M Company
Headquarters: United States
Ticker Symbol: MMM
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Heavy & General Laborers' Locals 472 & 172 Welfare Fund, et al. v. 3M Company, et al.