BENSALEM, Pa.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24MMM&src=ctag” target=”_blank”gt;$MMMlt;/agt; lt;a href=”https://twitter.com/hashtag/classaction?src=hash” target=”_blank”gt;#classactionlt;/agt;–Law Offices of Howard G. Smith announces an investigation on behalf of
3M Company (“3M” or the “Company”) (NYSE: MMM)
investors concerning the Company and its officers’ possible violations
of federal securities laws.
On April 25, 2019, 3M disclosed its first quarter 2019 financial and
operating results, which fell considerably short of market expectations,
and lowered its full-year earnings guidance to a range of $9.25 to $9.75
per share, compared to its prior outlook of $10.45 to $10.90 per share.
The Company announced a $548 million charge in the quarter to resolve
current and future litigation, reflecting a reserve of $235 million for
“certain environmental matters and litigation” and an additional $313
million to address current and expected coal mine dust lawsuits in
Kentucky and West Virginia. Moreover, the Company announced plans to cut
2,000 jobs worldwide due to a slower-than-expected 2019.
On this news, the Company’s share price fell $28.36 per share, more than
12%, to close at $190.72 per share on April 25, 2019, thereby injuring
If you purchased 3M securities, have information or would like to learn
more about these claims, or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected],
or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.