NEW YORK, May 01, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against 3M Company (MMM). Our investigation concerns whether 3M has violated the federal securities laws and/or engaged in other unlawful business practices.
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On April 25, 2019, 3M reported its financial and operating results for the first quarter of 2019, which fell significantly short of market expectations. 3M 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. The company also announced plans to cut 2,000 jobs worldwide as part of a restructuring due to a slower-than-expected 2019, 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.
On this news, 3M’s share price fell by more than 12%, closing at $190.72 on April 25, 2019.
If you purchased or otherwise acquired 3M shares and suffered a loss, have information, 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 Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into 3M please go to http://www.bespc.com/mmm/. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.