Glancy Prongay & Murray LLP Continues Investigation on Behalf of 3M Company Investors
LOS ANGELES–(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;–Glancy
Prongay & Murray LLP (“GPM”) announces the continuation of its
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.
If you are a shareholder who suffered a loss, click here to
participate.
If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, at
310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com,
or visit our website at www.glancylaw.com.
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
investors.
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 Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park
East, Suite 2100, Los Angeles, California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP, Los Angeles/New York
Lesley F.
Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com