3M Statement Regarding Bankruptcy Court Decision
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3M Co. (MMM) Trials Points to 'Longer, More Expensive Outcome' - Morgan Stanley
August 29, 2022 3:10 PM EDTOn Friday, a ruling from the US Bankruptcy Court refused to temporarily halt lawsuits against 3M Co. (NYSE: MMM) and Aearo Technologies relating to Dual-Ended Combat Arms earplugs it sold from 2008 to 2015.
The news resulted in 3M shares tumbling 9.5%. It has fallen further during Monday's session, down 2.1% at the time of writing.
On Monday, Wolfe Research and Morgan Stanley analysts released research notes, providing their thoughts on the news:
"The ruling came down to two main factors: 1) the "uncapped, non-recourse" funding agreement from 3M... More
