NEW YORK, July 29, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of all investors that purchased 3M Company (MMM) securities between February 9, 2017 and May 28, 2019 (the “Class Period”). Investors have until September 27, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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The complaint, filed on July 29, 2019, 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, 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, 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. These omissions and misrepresentations caused 3M’s stock price to trade at artificially inflated prices of as high as $258 per share during the Class Period.
If you purchased 3M shares during the Class Period, 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 firstname.lastname@example.org, 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 the 3M class action please go to https://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.